MOL and Janaf hold “constructive” talks; Janaf comments on OFAC license

“We had a constructive discussion with the management of the crude oil transporter, Janaf,” stated the Hungarian oil company, MOL, following recent disagreements.

It asked the Croatian company providing transport services to demonstrate, through appropriate tests, whether it can deliver sufficient crude oil via the Adria pipeline every day of the year. “MOL is providing full support for the tests in Croatia. Naturally, we are open to involving any external experts, but it is important to emphasise that responsibility for the refineries and regional supply security lies with MOL,” reads the press release.

As the company added, in a predictable market environment and with competitive services, it recommends re-establishing the commercial relationship on a new basis, as “MOL has always been committed to transparent and market-based pricing.”

The company suggested that Janaf study the best international examples of ownership structures of Western European transport companies, where the involvement of crude oil users as owners ensures fair pricing and continuous availability.

However, they also emphasise that MOL’s position has not changed: “for the region’s supply security, at least two high-capacity pipelines operating at competitive prices are needed to ensure reliable crude oil supply in any emergency.”

Stjepan Adanić, President of the Management Board at Janaf and Management Board Member Vladislav Veselica, also gave statements regarding the start of negotiations with MOL, highlighting that both MOL Group and Janaf are committed to reaching a mutually acceptable contract for crude oil transport for the upcoming period.

Regarding the OFAC license, issued by the U.S. Office of Foreign Assets Control, they reiterated that the company has obtained a license valid until 15 October 2025. This license allows JANAF to transport oil from the Serbian company NIS, which may be subject to US sanctions, if it does not receive a similar extension by tomorrow morning. (There have been no updates on this so far.)

Janaf expressed hope that NIS will succeed in maintaining a stable supply of crude oil to its refinery. They especially emphasised that Janaf’s operations are stable and safe, regardless of the outcome of the procedure concerning NIS before the American authorities.