GLOBALIZATION OF THE CROATIAN OIL INDUSTRY

Over the past years oil companies from Central European countries have gone through a difficult market transformation process. They are mainly privatized, have mostly reconstructed and modernised their production and market capacities and have reorganised their businesses. By entering into mutual alliances, they try to defend the position in their respective domestic markets from takeovers from the east and west alike, and through strategic alliances such companies also strengthen their own competitive position in neighbouring markets in South Eastern and Eastern Europe. By its character and far-reaching consequences privatization of INA has been one of major strategic decisions of the Croatian society. This has been the most important decision since the incorporation of INA. Final success of this process depends on global trends in the energy market, success of transition processes in Croatia and neighbouring countries. Croatia could not have avoided cooperation with the closest neighbours with which we share physical and territorial continuity. INA has adopted a strategy characteristic for small size integrated companies and must follow global trends; it has got a strategic partner and continues with technological development. INA privatization concept has been defined to meet criteria imposed by the globalization process, or its European derivative – market liberalization.