INA d.d.

INA d.d., formally INA-Industrija nafte, is a Croatian integrated oil and gas company headquartered in Zagreb. Its activities span the principal stages of the petroleum value chain: exploration and production of crude oil and natural gas, refining and processing, wholesale distribution, retail fuel sales, and related energy products and services. Through INA Group and its affiliated companies, the company has historically operated in Croatia and a range of international locations, while its current upstream portfolio is centered on Croatia, Egypt, and Angola. INA was created in 1964 by combining Naftaplin, the Yugoslav enterprise responsible for oil and gas exploration and production, with the refineries in Rijeka and Sisak. The merger gave the new company an integrated structure covering domestic resource development and petroleum processing. During the socialist period, INA expanded its exploration, refining, and distribution capabilities and became one of the most important energy enterprises in Croatia and the wider Yugoslav market. Its industrial base includes the Rijeka refinery complex on the Adriatic coast, the Sisak refinery site, storage and logistics connections, and a broad retail network. The company’s corporate form and ownership changed substantially after Croatia’s independence. INA became state-owned in 1990 and was converted into a joint-stock company in 1993. MOL became a strategic partner in the first stage of privatization in 2003, acquiring 25% of the shares. Further transactions, including the transfer and sale of shares to the Croatian Defenders’ Fund, employees, and other investors, reduced the state’s holding below a majority. MOL later increased its stake through a public offer completed in 2008. The resulting ownership structure made INA a strategically important Croatian company with shared influence between the Croatian state and Hungary-based MOL Group. INA is significant to Croatia’s energy security because it combines domestic production, import and refining infrastructure, fuel distribution, and a nationwide service-station network. Its downstream business has been shaped by investment in cleaner fuels, hydrocracking, desulphurization, hydrogen production, coking, wastewater treatment, and other modernization projects. Rijeka is the company’s principal modern refining platform, benefiting from maritime access and connections to the JANAF oil-transport system. Sisak has a long industrial history and has periodically been the focus of restructuring and closure debates. The company has also been at the center of a prolonged governance and ownership dispute between MOL and the Croatian Government. The dispute was linked to disagreements over management rights, strategy, and allegations arising from the corruption case involving former Croatian prime minister Ivo Sanader. Arbitration under the United Nations Commission on International Trade Law ultimately favored MOL, although the relationship between the two principal shareholders has remained politically sensitive in Croatia. In recent years, INA has continued to maintain its conventional oil and gas operations while pursuing projects intended to reduce the carbon intensity of its refining system. In 2024, it announced contracts connected with a green-hydrogen project at the Rijeka refinery and biomethane production at Sisak. These initiatives reflect INA’s effort to remain an integrated energy company while adapting its industrial assets to changing European fuel, emissions, and energy-security requirements.

INA was established on 1 January 1964 through the merger of Naftaplin, the Yugoslav oil and gas exploration and production company, with the refineries in Rijeka and Sisak. The new enterprise was initially described as an oil and gas conglomerate; its present name was adopted later in 1964. The combination of upstream operations and refining gave INA an integrated role in Yugoslavia's petroleum sector. The Rijeka and Sisak facilities provided the industrial foundation for INA's downstream business. Rijeka's refining tradition dates to the nineteenth century, while Sisak's petroleum-industrial history began with storage and refining facilities developed during the interwar period. Both sites were expanded and modernized over subsequent decades. Rijeka benefited from its coastal location, port access, and connection to the JANAF crude-oil transportation system. Sisak developed as an inland refinery connected to Croatia's river, rail, road, and pipeline infrastructure. During the 1960s through the 1980s, INA expanded production capacity, exploration activity, refinery technology, and distribution. The Rijeka refinery produced a wide range of petroleum products and introduced unleaded gasoline production in the 1980s. INA also developed exploration and production operations outside Croatia, at various times participating in projects in numerous countries. INA's legal and ownership status changed during Croatia's political and economic transition. It became a state-owned enterprise in 1990 and a joint-stock company in 1993. Privatization began in 2003, when MOL acquired a 25% stake and became a strategic partner. In 2005, 7% of the shares were transferred to the Croatian Defenders' Fund, followed by additional employee share sales. These steps reduced the proportion of shares held directly by the Croatian state. MOL's voluntary public offer in 2008 increased its ownership substantially and established the shareholder balance that continues to define INA's corporate governance. The post-privatization relationship between MOL and the Croatian Government became contentious. The parties disagreed over management authority, investment priorities, refinery strategy, and the handling of INA's business. The dispute was further complicated by the corruption proceedings involving former Croatian prime minister Ivo Sanader and allegations concerning the circumstances of MOL's influence over INA. Arbitration proceedings under the United Nations Commission on International Trade Law ultimately ruled in MOL's favor, although the issue remained a prominent subject in Croatian politics and energy policy. INA's upstream portfolio has included Croatian onshore and Adriatic offshore assets as well as international projects. Its current reported operations include Croatia, Egypt, and Angola. The company has also faced the loss or impairment of international assets, including Syrian oil and gas fields affected by conflict and international sanctions. In downstream operations, INA has concentrated modernization at Rijeka while reassessing the role of Sisak. Investments at Rijeka included hydrocracking, hydrogen, desulphurization, and supporting infrastructure. Sisak received desulphurization, FCC-gasoline hydrotreatment, isomerization, wastewater-treatment, and coking-related improvements, but its long-term role has repeatedly been debated. INA's retail business has operated a large network of service stations in Croatia and neighboring markets. The company is now pursuing a dual strategy: sustaining conventional oil and gas production and refining while adding lower-carbon technologies. Contracts announced in 2024 covered a green-hydrogen project at Rijeka and biomethane production at Sisak. These projects indicate an attempt to reuse existing industrial infrastructure for energy-transition purposes without abandoning INA's core role in Croatia's fuel and energy system.

• 2024

  Energy-transition projects announced

  [1]INA d.d.en.wikipedia.org

  INA signed contracts associated with green hydrogen at Rijeka and biomethane production at Sisak.

• 2014

  Sisak closure decision postponed

  [1]INA d.d.en.wikipedia.org

  INA's supervisory board deferred a proposed closure of the Sisak refinery.

• 2011

  Rijeka refinery hydrocracking facilities entered commercial operation

  [1]INA d.d.en.wikipedia.org

  Mild hydrocracking, hydrogen, and sulfur-recovery facilities formed part of the modernization of the Rijeka refinery.

• 2008

  MOL expanded its ownership

  [1]INA d.d.en.wikipedia.org

  MOL completed a voluntary public offer that materially increased its holding in INA.

• 2006

  Dual stock-market listing

  [1]INA d.d.en.wikipedia.org

  INA shares were listed in Zagreb and London on 1 December.

• 2003

  MOL acquired a strategic stake

  [1]INA d.d.en.wikipedia.org

  MOL purchased 25% of INA in the first stage of privatization.

• 1993

  Converted into a joint-stock company

  [1]INA d.d.en.wikipedia.org

  INA adopted the joint-stock-company form that preceded its later privatization.

• 1990

  Became state-owned

  [1]INA d.d.en.wikipedia.org

  INA's ownership was reorganized as a state-owned company during Croatia's political transition.

• 1964

  INA established

  [1]INA d.d.en.wikipedia.org

  Naftaplin merged with the Rijeka and Sisak refineries to create an integrated Croatian-Yugoslav oil and gas enterprise.

A strategically important Croatian integrated energy company combining domestic upstream production, refining, petroleum logistics, wholesale supply, and retail distribution, with an increasing emphasis on lower-carbon industrial projects.

• Upstream oil and gas

  Exploration and production

  INA explores for and produces crude oil and natural gas. Its activities have covered Croatian onshore and Adriatic offshore areas and international assets. The currently reported upstream footprint includes Croatia, Egypt, and Angola, with production and reserve-replacement objectives supporting the company's integrated supply model.

• Refined petroleum products · 1883

  Rijeka refinery products

  The Rijeka refinery produces and handles products including liquefied petroleum gas, naphtha, gasoline, diesel, jet fuel, heating oil, asphalt, petroleum coke, sulfur, lubricants, greases, and paraffin wax. Its coastal location supports crude imports, marine logistics, and connection with the JANAF pipeline system.

• Refining and industrial petroleum products · 1928

  Sisak refinery products

  锡萨克厂址历史上加工克罗地亚原油并生产石油产品。它已获得脱硫、FCC汽油处理、异构化、废水处理和焦化相关装置。该厂址的未来角色一直受到重组和战略审查。

• Fuel retail

  INA service stations

  INA operates a branded retail network selling motor fuels and related petroleum products, together with convenience and vehicle-oriented services. The network has extended beyond Croatia into neighboring markets and is a principal consumer-facing expression of the INA brand.

• Lower-carbon energy · 2024

  Green hydrogen and biomethane projects

  Contracts announced in 2024 cover a green-hydrogen facility associated with the Rijeka refinery and a biomethane production facility at Sisak. These projects are intended to diversify INA's energy output and repurpose existing industrial assets for lower-carbon production.

• 2009

  INA-MOL ownership and corruption dispute

  The relationship between MOL and the Croatian Government became embroiled in a major political and legal controversy connected with disagreements over control of INA and allegations arising from the Ivo Sanader corruption case. The dispute led to international arbitration and remained a central issue in Croatian energy politics.

  Source

Read more

• 2024

  Move into green hydrogen and biomethaneStrategy

  Background

  European fuel-market changes and decarbonization pressures encouraged INA to develop lower-carbon uses for its refinery and industrial infrastructure.

  Action taken

  INA signed contracts for a green-hydrogen plant at Rijeka and a biomethane facility at Sisak.

  Aftermath

  The projects positioned the two refinery sites as potential platforms for energy-transition activities alongside conventional refining.

  Source

• 2014

  Postponement of the proposed Sisak refinery closureStrategy

  Background

  INA had announced plans to close the Sisak refinery amid questions about refinery economics, capacity utilization, and the future division of work between Sisak and Rijeka.

  Action taken

  The supervisory board postponed the proposed closure in October 2014.

  Aftermath

  Sisak continued to be treated as a strategically sensitive asset, although its long-term operating role remained subject to restructuring discussions.

  Source

1. 1INA d.d.en.wikipedia.org
2. 2INA official websiteina.hr