INA to Close Down Sisak Refinery

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ZAGREB, December 20, 2018 – Energy Minister Tomislav Ćorić commented on Thursday on oil company INA’s business plan for 2019, saying it was about an investment cycle that would lead to the necessary modernisation of the refining business and that the transformation of the business in Sisak was the path INA should take. The plans call for the closure of Sisak refinery.

Responding to questions from the press ahead of a cabinet meeting, Ćorić said the company’s management and supervisory boards had supported a plan to transform the business in Sisak. “I think INA should first and foremost become a business case and less a subject of politicisation.”

Asked if that meant the end of refining in Sisak, Ćorić said the transformation of the business there had been analysed by management and that it was “simply the path INA should take.”

INA plans to concentrate its refining business in Rijeka, while the Sisak refinery would focus on other activities, the company said on Wednesday.

Asked about Hungarian energy group MOL’s withdrawal of a suit it brought against Croatia before a Washington district court, Ćorić said the suit was groundless as all of MOL’s receivables from Croatia were paid over a year ago.

More news on the future of INA can be found in our Business section.

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