Russian Gazprom Interested in INA’s Gas Stations?

The Russian company Gazprom is not considering entering INA, but since it is interested in retail near the refinery in Pančevo, it could be contemplating the purchase of INA’s gas stations.

Thus, the CEO of the Oil Industry of Serbia, Kiril Kravchenko, which is owned by Gazprom, responded to the question of whether Gazprom or NIS are interested in entering INA, stating that neither of the two companies is considering entering INA, but that money is not the reason for this, writes Jutarnji list.

Gazprom is a mega-company with 393,000 employees, last year it generated revenue of $153 billion and a profit of as much as $38.7 billion. Kravchenko stated that Gazprom is exploring various opportunities in Europe, particularly interested in different projects in the region and the purchase of gas stations in countries near the refinery in Pančevo.

Therefore, Gazprom is not interested in INA, its oil and gas fields, or the refineries in Sisak and Rijeka, but it is interested in its retail, specifically the Croatian market where it would sell derivatives processed in Pančevo.

Nor would Rosneft, the Russian oil giant with 106,000 employees, revenue of $102 billion, and a profit of $11.1 billion, find an investment of three billion euros, which is the value of the Hungarian stake in INA, to be an obstacle.

Especially since Rosneft signed a contract with China this year to deliver 365 million tons of oil to that country and receive $270 billion in return. Therefore, it is not surprising when a source close to the top of the Russian company explains that Igor Sechin, the CEO and a close friend of Vladimir Putin, has other priorities.

However, as doors should never be closed in politics and business, Moscow does not deny that discussions are taking place with Zagreb and that there is indirect communication with Budapest. However, since more than twenty refineries have closed in Europe alone, and the revenues of oil companies have plummeted, Gazprom reduced its profit by as much as six billion dollars in 2012 compared to 2011, there is neither excessive business nor political justification for entering the ownership structure of INA.