January 25 (SeeNews) - Croatian oil pipeline operator Janaf [ZSE:JNAF] said it signed a memorandum of understanding with Kazakhstan's state-owned oil and gas company KazMunayGas for potential cooperation in the transportation and storage of crude oil and storage of oil derivatives.
"We are very content that Janaf has been recognized as an important factor in the oil and energy sector. The welcome the agreement with KazMunayGas as an another step in strengthening the resilience of Janaf to geopolitical events and market uncertainty that the oil companies face nowadays," the Croatian company said in a press release late on Wednesday when the deal was signed.
Majority state-owned Janaf operates terminals for crude oil and oil products located on the Krk island, as well as in Sisak, Virje, Slavonski Brod and Zitnjak.
KazMunayGas is the main stakeholder of Romania's Rompetrol Rafinare [BSE:RRC], which operates the Petromidia Navodari and Vega Ploiesti oil refineries. Petromidia Navodari provides roughly 40% of Romania’s refining capacity.
Janaf's shares closed 1.19% higher at 850 euro ($926) on Wednesday on the Zagreb Stock Exchange, bourse data showed.
($ = 0.918 euro)
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