Economy Economy News Business Russian oil giant is entering Croatia with a BILLION EUROS investment!
Russian oil giant is entering Croatia with a BILLION EUROS investment!
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- Published on Thursday, 05 July 2012 18:50
- Written by BC & Agencies
The Russian state oil company Zarubezhneft entering at the big door in Croatia. In the next five years Russians plan to invest over a billion euros to improve local oil infrastructure, and will allocate additional 100 million euros for further research projects, according to the Zarubezhneft CEO Nikolai G. Brunico . The news of entering the Croatian market Brunico first declared while on Russian territory in Croatia, in the premises of the Russian Embassy in Zagreb.
Russian companies will enter Croatian market through three segments. With his company Zarubezhneft Adria, which is owned jointly by the Zarubezhneft, Janaf and Swiss offshore company White Falcon Holding, there will place a bid on the repeated tender for geological research at nine locations in Croatia. The new Croatian government has recently canceled the old tender and is it about to announced a new one. For this project, Zarubezhneft Adria, and thus the JANAF will become a major competitor to Croatian national oil giant INA for all oil and gas exploration in Croatia.
Nikolai Brunico said on Tuesday that Croatian businessman part if the board of the Swiss off-shore company. However, he could not say his name because he has not participated in the founding of the company.
During the entire one hour press conference, Brunico continually emphasized his company's extraordinary cooperation with JANAF and announced more big plans for the future such as construction of the pipeline from Slavonski Brod - Zagreb - Omisalj.Conversations about the revitalization of the project started earlier between the Croatian Premier Jadranka Kosor and Russian Vladimir Putin as it was reported by the media.
Strategically important regional pipeline will transport diesel fuel, gasoline and other petroleum products from refineries in the Bosnian and Slavonski Brod. According Brunico, this project is a priority because the pipeline will enable the export of surplus petroleum, as well as petroleum products market stabilization in Croatia.
Furthermore, Brunico revealed that Russian oil companies are very interested in storing Russia's strategic oil reserves and oil for sale on the SPOT market in the storage spaces in Omisalj. How interesting JANAF is to Russians is confirmed by the announcement of the Zabružnjefta CEO that Russian transport company, Transnjeft, is interested in becoming part og the ownership structure of Janaf whenever that becomes possible.
The third project Zarubezhneft to enter the Croatian market is their intention to purchase all 91 of OMV petrol filling stations in Croatia and Bosnia-Herzegovina. Brunico claims that they already submitted to the Austrian company an offer to purchase their stations, but have not yet received a response. Reportedly, OMV is soon to respond.
"We want to include in the next few months, talks with potential buyers. We are different options open," OMV spokesman Sven Pusswald recently told media.
Director Zarubezhneft also repeatedly stressed that the interest of his company is headed by a transparent business in Croatia and collaborative partnerships with Croatian companies. He claims that in light of this collaboration Zarubezhneft offered INA a chance to collaborate on tenders for geological research, but never got any response for their offer. Brunico believes that this shows that some INA shareholders are not happy with the INA with their arrival in Croatia. When asked if thinks that is MOL, Brunico indirectly replied that they have excellent cooperation with MOL in Russia and that on this issue he has nothing else to add.
Through its daughter company of Optima, Zarubezhneft is present in the local market for several years as the owner of oil refineries 'Brod' and oil refinery 'Modrica' where they becomes majority owner by purchasing 75,65% of shares from the state and external shareholders in 2007. Last year they founded company 'Nestro Sava' in Croatia, with intentions to intensify operations in the Croatian market.
Zarubezhneft Directorate headed by Nikolai G. Brunico spoke about all these plans with Croatian Deputy Prime Minister and Minister of Economy Radimir Cacic .
