Croatian oil and gas company INA, said on Tuesday it will temporarily idle its Sisak refinery as of January 14 due
to the depletion of domestic oil stocks.
The move ispart of measures to
optimise business operations, INA said in a statement, adding that there are no
plans to shut down the refinery permanently or cut jobs.
In view of the
steep drop in oil prices, which is undermining the profitability of INA's oil
and gas exploration and production business, it is necessary to put an even
stronger emphasis on improving the profitability of the refining business so
that it can be independent and sustainable, the company said.
The Sisak
refinery - one of two operated by INA, has a nominal crude distillation capacity
of 2.2 million tonnes per year. INA's second refinery is located in
Rijeka.
The restart of production at the Sisak refinery will depend on
the external environment, INA said, adding that, in the meantime, production
will be concentrated in Rijeka where refining operations are planned to continue
in the first half of February.
INA has exploration and production
operations in Croatia, Africa and the Middle East and operates a filling station
network on its home market and in neighboring countries.