Pancevo oil refinery (BetaPhoto/Ministry of Mining and Energy of Republic of Serbia/Emilija Jovanovic)
After almost 100 days, Croatian company JANAF has started delivering crude oil via the Adria oil pipeline to the refinery in Pancevo, state public broadcaster RTS reported on Jan. 13.
JANAF stopped supplying crude oil to the Pancevo Refinery on Oct. 9, following full application of the US sanctions against oil and gas company Naftna Industrija Srbije (NIS), imposed over Russian majority stake in the company. The delivery was made possible following a license granted by the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury to JANAF and NIS, the owner of the Pancevo Refinery, to continue operating until Jan 23.
On Jan. 12, Serbian Mining and Energy Minister Dubravka Djedovic Handanovic said that about 85,000 tons of crude would be delivered by JANAF by the end of this week. “The Pancevo Refinery is due to resume operations around Jan. 16, or by the end of the week. We are expecting that first quantities of diesel fuel will be available in the market on Jan. 26 or 27,” she said.
NIS has a three-year arrangement with JANAF for the delivery of 10 million tons of crude oil, which expires in December 2026.
To get full access to all content of interest see our
Subscription offer
Or
Register for free
And read up to 5 articles each month.
Already have an account? Please Log in.