INA d.d.

INA d.d., commonly known as INA Group, is a Croatian integrated energy company engaged in the exploration and production of crude oil and natural gas, the refining of hydrocarbons, the marketing of fuels and lubricants, and the production of petrochemical products. Its operations span the full value chain from upstream field development to downstream retail, supplying both domestic consumers and export markets in the broader Southeast European region. The company’s core activities are centred on meeting energy demand while adhering to environmental and safety standards applicable to the hydrocarbon sector.

The group operates Croatia’s largest petrol station chain, with a retail network that extends across the country and into several neighbouring states, providing a significant footprint in the regional fuel market. In addition to its extensive service station infrastructure, INA manages refineries located in Rijeka and Sisak, which process crude oil into a range of refined products for distribution. Its upstream interests include offshore fields in the Adriatic Sea as well as onshore concessions, contributing to the company’s hydrocarbon resource base.

A distinguishing attribute of INA is its integrated upstream‑downstream business model, which enables it to control production, refining, and marketing activities within a single corporate structure, enhancing operational flexibility and value capture. As a joint‑stock company listed on the Zagreb Stock Exchange, INA represents a major player in the Southeast European energy sector, with its largest shareholder being the Hungarian MOL Group. The company is recognised for its focus on technological adoption, digitalisation of retail operations, and compliance with stringent industry regulations governing exploration, production, and product quality.

Structurally, INA d.d. is a publicly traded joint‑stock company whose share capital is divided among several key stakeholders, with MOL Group holding the largest individual stake and the Republic of Croatia retaining a substantial ownership interest. The firm’s organisational framework includes various subsidiaries such as INA Maziva, which specialises in lubricants, and INA Petrol, which oversees the retail fuel network. This ownership and subsidiary arrangement reflects its status as a state‑partnered energy provider that operates under both corporate governance principles and national strategic interests.