INA restarts fuel production in Rijeka after 100 mln euro investment

"This investment cycle worth more than 100 million euro ($106 million) puts the Rijeka Refinery a step closer to completing its transformation into a modern European refinery, which is one of INA’s key strategic goals," the company said in a press release.

INA suspended fuel production at its Rijeka refinery as of the first week of December.

As part of the 40 million euro maintenance project, more than 800 pieces of equipment across the refinery were cleaned and inspected, with about 40 of the most critical pieces being replaced, according to the press release.

The maintenance was necessary due to legal requirements, as the refinery had not undergone a regular turnaround since 2019. It was also crucial for ensuring the refinery's continuous operation in the future, enhancing market supply security, the company said.

During the maintenance, eight investment projects worth more than 60 million euro were simultaneously carried out, which will ensure stable and efficient operation of the refinery in the future.

"The most important investment projects – the upgrade of the atmospheric distillation unit and the replacement of four existing condensing turbines with electric motors and equipped frequency drive system – have improved the energy efficiency of the refinery, but also reduced CO2 emissions," the company said.

"As the next planned turnaround will take place in five years time, during that period all the crude oil produced in Croatia is planned to be processed at the Rijeka refinery," Goran Plese, INA’s operating director of refining and marketing, said.

INA’s shares last traded on Monday, when they closed 1.20% lower at 494 euro on the Zagreb bourse.

($ = 0.941 euro)