electricity storage markets

Serbia’s crude supply chain remains dependent on temporary sanctions authorisations, with the operating window for NIS and corresponding JANAF activities extended to 11 December 2026. Uncertainty persists over MOL’s proposed acquisition of the Russian majority stake in NIS.

OMV Petrom's Petrobrazi refinery in Romania operated above 98% utilisation in the first nine months of 2026 and at 100% in the third quarter. High throughput supports Romanian fuel supply and positions the refinery to benefit from strong product margins.

INA’s completed upgrade at its Rijeka refinery increases diesel yield and crude flexibility. The project could strengthen fuel supply and refinery economics across nearby Adriatic markets.

Refineries in Croatia, Romania, Bulgaria and Serbia are gaining strategic importance as diesel supplies tighten and long-distance imports become scarce, costly or unreliable. Local production can shorten supply chains and reduce exposure to disrupted seaborne trade, while refinery operations and crude deliveries remain key to availability.

Global diesel supply is projected to recover in early 2027, but depleted inventories could keep European prices and diesel cracks elevated until stocks are rebuilt.