Croatia's Janaf Signs Oil Storage Deal with Sweden's Litasco
10.26.2020 - NEWS

October 26, 2020 [See News] – Croatia’s state-controlled oil pipeline operator Jadranski Naftovod (Janaf) [ZSE:JNAF-R-A] said on Tuesday it signed an oil storage deal with Swiss company Litasco.

 
The deal is valid for the period from November 1 until April 30, 2021, as the oil will be stored at Janaf’s Omisalj terminal, the Croatian company said in a statement with the Zagreb bourse.

The announcement comes after last month’s arrest of Janaf’s general manager Dragan Kovacevic by Croatia’s Office for Suppression of Corruption and Organised Crime (USKOK) for suspected economic crime and corruption.

Janaf controls terminals on the island of Krk, as well as in Sisak, Virje, Slavonski Brod and Zitnjak, and operates 631 kilometres of pipelines. It has 1.94 million cubic metres of storage capacity for oil and 222,000 cu m of capacity for the storage of petroleum products.

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