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Rosneft mulls stake in Croatian oil company INA

Igor Sechin told that the company is considering to acquire a stake in Croatian company INA.

CEO of Rosneft Igor Sechin told Croatian daily Jutarnji List on October 28, 2017,  that Croatia is in the center of the Rosneft's regional development strategy and that the company is considering to acquire a stake in Croatian oil and gas company INA.


«We are interested to invest in this region. INA is a classic vertically integrated company, but from our perspective, key assets of INA are 2 major refineries in Rijeka and Sisak,» said Igor Sechin.

His thoughts of the 2 refineries are inconsistent with an official policy of Hungary's MOL, who is the biggest shareholder in INA and considers them the most problematic part of the company's business.


«We think that there is no need to close a refinery in Sisak that can take an important position in the European market after the modernization,» Sechin told Jutarnji List.

INA and MOL are at odds over management rights and the Croatian Government is seeking an adviser and model to buy back INA shares that are held by MOL.


The head of Rosneft explained that INA refineries could be competitive because the drop in oil prices hasn't led to the fall in prices of petroleum products in Europe.

«The refineries in the Mediterranean have significant potential thanks to the logistics advantages,» he said, adding that they consider a stronger presence in this market through an integrated chain of production, processing, and sales.


«We can do this in Croatia and that is why I am confident that there is a potential for development and that we will succeed in building a strategic partnership with the Croatian Government in INA», Sechin said.


Source : Neftegaz.RU