Croatian oil firm says no shortages expected, no Russian oil needed

A number of local media reported earlier in June, quoting another oil company, Petrol, that Croatia is “already facing a shortage of diesel and petrol on the market. Because of the EU embargo on Russian oil, we expect further disruptions and upward pressure on retail prices.” [Shutterstock/Jan Orlowski]

Croatia’s oil and gas company INA, co-owned by the Croatian state and the Hungarian energy group MOL, denied media reports that the country is heading for petrol shortages due to the international sanctions against Russia.

A number of local media reported earlier in June, quoting another oil company, Petrol, that Croatia is “already facing a shortage of diesel and petrol on the market. Because of the EU embargo on Russian oil, we expect further disruptions and upward pressure on retail prices.”

INA said, however, that no shortages were expected. “With the production in the Rijeka Refinery (in northern Adriatic), INA secures enough petrol for the domestic needs. INA also provides the supply of diesel, partly from its own production and partly from the Mediterranean market and it, therefore, does not depend on Russian oil,” INA said in a statement on Tuesday.

The company said it had imported only 1.3% of oil derivates sold in 2021 from Hungary, “and the trend is similar this year.”

“Therefore INA does not get derivatives from Hungary, as has been reported by media and some analysts in recent days,” they said.

It also stressed that the Rijeka refinery has been back online since March, after regular maintenance, and is “working at full capacity.” “We want to stress that the security of supply is not threatened,” the company said.

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