Russian Oil Giant wants to Buy key companies in Croatia and BiH

Igor Secin, the first man of Rosneft, the world’s largest oil company, confirmed for the Jutarnji list that this Russian giant wants to take over Ina.

This would greatly improve Ina’s business prospects in cooperation with that large company which controls 5% of the world’s total oil production and generates annual revenues of $65 billion, according to the Jutarnji list.

Should this takeover take place, this would also strongly affect the BiH market, where Ina is one of the key players, BiznisInfo reports.

Its daughter company, Holdina, manages a network of about 50 gas stations across Bosnia and Herzegovina. In addition, Ina is the majority owner of Energopetrol, which has a similar number of stations. Holdina and Energopetrol together make up the largest network of gas stations in BiH.

When it comes to wholesale trade, Ina is the biggest importer of petroleum products in BiH.

According to the current market prices, the value of the Croatian oil company is 32 billion Kunas (close to 8,7 billion BAM).

Croatia sold 25 percent plus one share of Ina to MOL for 505 million dollars in 2003. Five years later, a Hungarian oil company bought another 22 percent of Ina shares and paid 6 billion Kunas to the state budget. All in all, Croatia got about 10 billion Kunas, or 1.2 billion Eeuros, from the sale of Ina.


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