MOL Expresses Discontent over Oil Transport Agreement with Croatian Pipeline Operator
Croatian oil pipeline operator Janaf has recently signed a new oil transport contract with Croatian oil company INA and Hungarian MOL. The contract, which is effective until the end of 2025, allows MOL to transport 2.1 million tons of crude oil through the Janaf pipeline system and store crude oil in Omisalj and Sisak until the end of 2027.
While the volume for MOL has not significantly changed from the previous year, the deal with INA is much more substantial. Under the new contract, INA will transport 7.2 million tons of crude oil to the Rijeka refinery until the end of 2025 and store crude oil in Omisalj until the same period. This marks a significant increase compared to the previous year’s agreement.
Janaf has been supplying crude oil to MOL’s refineries for thirteen years, playing a crucial role in ensuring the energy supply in the region. However, the recent contract announcement has stirred some concerns, as the two companies were only able to reach a one-year agreement at higher prices than European transport tariffs.
The MOL Group expressed regret over the short-term contract and highlighted the importance of a multi-year agreement for ensuring a predictable security of supply in the region. Despite the challenges posed by the current contract terms, the companies emphasized their commitment to the security of energy supply in the region.
In 2024, Janaf reported total revenues of €136 million and a net profit of nearly €50 million, with the majority of the revenue coming from outside Croatia. The company’s operation of the Adriatic pipeline plays a crucial role in enabling the transport of crude oil to domestic and foreign users.
As the energy sector continues to evolve, partnerships and agreements like the one between Janaf, INA, and MOL are essential for ensuring a stable and secure energy supply in the region.
