Oil company Ina: Our fuel supply network is not threatened by Russian sanctions

NEWS 21.06.2022 21:32

With the production at the Rijeka refinery, INA provides enough petrol for the domestic market, and diesel is provided partly from its own production and partly from the Mediterranean market, so the security of fuel supply is not at risk and the company does not depend on Russian oil, INA said on Tuesday.

The Croatian oil company issued the press release in response to the public’s interest in fuel supply.

The company said that in 2021 only 1.3% of the total quantity of sold derivatives had been imported, and this year has seen a similar trend.

“At the same time, INA exported to Hungary 0.7% of the total quantity of sold derivatives in 2021. Therefore, INA is not supplied with derivatives from Hungary, as some analysts have claimed in the media in recent days, but it contributes to the stability of the supply mostly through its own production at the refinery,” INA said.

Accordingly, the company added, it is completely justifiable to determine the prices in line with the trends in derivatives on the Mediterranean market, as well as the trends in Brent crude oil prices and the kuna-dollar exchange rate.

With regard to the claims about the necessity of starting up the Rijeka refinery, INA said that the refinery had been continuously refining oil since March, when the regular overhaul was completed, and that it operated at maximum capacity.

The company underscored that the security of fuel market supply was not endangered because INA continuously supplied its wholesale and retail buyers.

It said it is possible that in the days before the price changes there is increased demand for petroleum products at some locations which significantly exceeds the usual needs, putting pressure on logistics and transport capacities.

In such situation, the company intervenes and supplies buyers and retailers with all kinds of fuel in order to avoid shortages at any retail business, INA said.