Croatia’s INA restores production at full capacity at Rijeka oil refinery

May 11 (SeeNews) - Croatian oil and gas company INA [ZSE:INA] said on Thursday it has restored to full capacity the production of fuels at its oil refinery in Rijeka following upgrade works.

The upgrade of the refinery is the largest and the most expensive industrial project under way in Croatia, in which INA is investing more than 630 million euro ($687 million), the company said in a press release.

Due to the upgrade works on the existing capacities at the refinery, oil processing was halted in November 2022, INA added.

By this modernisation project INA is a step closer to completing the construction of a new residue unit which is expected to happen in mid-2024, Peter Ratatics, president of the management board of INA said.

INA’s shares rose 2.73% to 452 euro on the Zagreb bourse on Thursday.

($=0.917 euro)