Jadranski Naftovod and Petroleum Industry of Serbia signed oil transportation contract

- Stock company Jadranski Naftovod - Janaf (Adriatic Pipeline) informed the Zagreb Stock Exchange that it had signed the contract with the Petroleum Industry of Serbia (NIS) on transportation of oil in 2010 - regional economic portal Seebiz.eu announced and added that the value of the contract had not been revealed yet.

Shortly after that news was announced, the value of the stocks of Janaf grew by 0.8%.

Janaf announced at the end of the last year that it wanted to raise the degree of exploitation of the existing gas pipeline and ensure the new markets, as well as that it would invest 2.9 billion HRK (about 560m USD) in the enlargement of storage capacities.

- The contract with NIS and two-direction transportation will contribute to realization of these plans to a great extent - said the people from Janaf.

Janaf is a stock company with the headquarters in Zagreb whose stocks are in the possession of Croatian Pension Insurance Institute (37%), HANDA (26%), INA (12%), Republic of Croatia (10%), Croatian Electric Power Company (5%), the Government Agency for Rehabilitation of Banks (4%), while the remaining stocks are owned by minor stockholders.