JANAF and Litasco sign crude storage deal

Croatian company Jadranski naftovod (JANAF) and Swiss trader LUKOIL International Trading and Supply Company (Litasco) have signed a new crude oil storage contract for JANAF’s Omišalj terminal.

The storage contract runs from 1 November 2020 to 30 April 2021. The Omišalj Terminal is located on the island of Krk, near the town of Omišalj on the Adriatic Sea. It has 17 crude oil storage tanks with a total capacity of 1.4 million m³ and six petroleum products storage tanks with a total capacity of 80,000 m³, as well as two sea vessel berths, road loading and additive facilities.

‘A new contract with Litasco, a world’s major company specialised for crude oil and petroleum product trading, and the cooperation realised with BP, as well as other users of our services, are the confirmation of reputation and opportunities that JANAF has on the Mediterranean spot oil market with the global oil companies, as well as oil traders, and in order to realise the business cooperation with the same, it is necessary to satisfy the highest standards of excellence in the business operation. Furthermore, a new contract with Litasco shows the experience of the company’s management in recognising the trends on the oil market,’ says the JANAF board in a statement.

For the forthcoming period the board has also signed crude oil storage deals with the Croatian Hydrocarbon Agency, INA, MOL, Glencore, Petraco, and BP, petroleum products storage deals with the Croatian Hydrocarbon Agency and Crodux, and crude oil transport deals with INA and MOL.

Source: Tank Storage Magazine