Croatian oil pipeline operator JANAF recorded a net profit of 33.3 million euros in the first nine months of 2025, marking a 10.2 percent decrease compared to the same period last year. Total revenues reached 96.4 million euros, down 3.3 percent year-on-year, while income from core business activities — oil transport and storage of crude and petroleum products — amounted to 90.6 million euros, a 2.5 percent decline from 2024.
Revenues from foreign clients totaled 62 million euros, accounting for 68.4 percent of JANAF’s core income and representing a 3.4 percent drop compared to the previous year. Domestic market revenue stood at 28.6 million euros, slightly lower by 0.3 percent. Operating expenses between January and September rose by 2.4 percent, reaching 55.7 million euros.
Earlier this month, JANAF announced that it is cooperating with the Croatian Government and legal advisors to mitigate the effects of U.S. sanctions imposed on Serbian oil company NIS. Under an existing contract, JANAF was transporting up to 10 million tons of crude oil for NIS through the end of next year. The suspension of these deliveries could reduce JANAF’s annual revenues by as much as 18 million euros.
In response, the company has initiated talks with Hungarian MOL Group on expanding crude oil transport through the JANAF pipeline to MOL’s refineries in Hungary and Slovakia. Prime Minister Andrej Plenković reaffirmed that JANAF’s infrastructure has sufficient capacity to supply both the Százhalombatta refinery in Hungary, which processes up to 8.1 million tons of oil per year, and the Bratislava refinery in Slovakia, with a capacity of around 6.1 to 6.2 million tons annually.
Plenković emphasized the reliability of Croatia’s oil transport network, noting that no tanker shipments arriving at the Omišalj terminal can compete with the low cost of Russian oil delivered via the Druzhba pipeline. He also highlighted that both the European Union and the United States support the long-term strategy of phasing out Russian oil and gas, stressing that transportation pricing remains a key issue but that higher delivery volumes and longer-term contracts generally lead to lower tariffs in line with standard market practices.
