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Croatia Is Ready to Extend Oil Transport Deal With Hungary’s Mol For One Year

OIL

Croatian oil pipeline operator Janaf is ready to extend an oil transport deal with Hungary’s Mol for one year as the Hungarian moves to cut its reliance on Russian crude.

  • The pipeline operator is offering to extend the deal, which is set to expire on 31 March, a source said.
  • Mol opened talks with the Croatian company earlier this year as it looked to wean itself off Russian supplies.
  • Demand for oil supplies via the Adriatic Sea is booming as central European buyers pivot away from supplies of Russian crude and regional concerns over energy security mount, according to Janaf.
  • Janaf raised its installed annual capacity by about 20% to 24mn tons this year — about 480kbpd— and still has room to reach its designed capacity of 34mn tons.
Energy BulletsCommodities
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