Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » Croatian oil firm INA aims for $282 mln biorefinery investment

    Croatian oil firm INA aims for $282 mln biorefinery investment

    June 24, 2020
    Share
    Facebook Twitter LinkedIn WhatsApp

    Sarajevo — Croatia’s oil and gas firm INA said on Tuesday it aims to invest 250 million euros ($282.4 million) to build a biorefinery in the central town of Sisak to help reduce its carbon footprint.

    The company, whose biggest shareholders are Hungary’s energy group MOL and the Croatian government, has applied for strategic project approval at Croatia’s ministry of economy and entrepreneurship.

    It is also seeking European Union funding, as the bloc of which Croatia and Hungary are members, aspires to cut emissions to zero by 2050.

    “The support of the EU and the Croatian government are key preconditions for the final implementation of this important project … which fits into the Green Plan and European Energy Strategy,” Sandor Fasimon, INA Board President, said in a statement.

    The Croatian government had no immediate comment.

    INA owns two refineries, one in Rijeka and a smaller one in Sisak, where it is developing an industrial facility producing bitumen from 2021.

    As part of the industrial complex, the refinery would produce advanced bioethanol from second-generation, sustainable biomass, as well as green power, INA said.

    In February, INA signed a deal with Axens, awarding the French group the licence to supply cellulose ethanol technology and the basic engineering design for advanced bioethanol production.

    Last year, INA also inked a deal with Belgian firm De Smet Engineers & Contractors on the provisional basic design for an ancillary facility and its integration into the existing refinery.

    INA plans to invest 50 million euros to establish a raw material supply chain, primarily into plantations of the biomass crop miscanthus, which is regarded as a sustainable source of biofuel.

    Croatia expects to start talks with MOL on a possible buyback of INA shares by the end of June. ($1 = 0.8853 euros)

    Follow us on twitter

    • Reuters

    Related News

    MAJI urges FG to ban single-use plastics, attract green investment

    Renewables to account for half of Brazil’s annual power output in 2035

    Otedola plans investment expansion in power, banking sectors

    E-book
    Resilience Exhibition

    Latest News

    US oil/gas rig count falls for 6th week to 2021 lows – Baker Hughes

    June 8, 2025

    Demand for US light sweet crude drops as OPEC+ ramps up output

    June 8, 2025

    ‘Ebonyi communities face pollution, abuse from Chinese mining firms’

    June 8, 2025

    Nigeria loses N710bn to gas flaring in four months

    June 8, 2025

    NNPCL cuts workforce by 197 employees in one year

    June 8, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.