The Agency for Mandatory Oil Reserves (MAKORA) constantly monitors and maintains state reserves of oil and oil derivatives, ensuring security of supply, market stability and readiness for timely reaction in the event of any disruption to imports or supplies, informs the Ministry of Energy, Mining and Mineral Resources (MERMS), adding that they are monitoring the current energy situation with special attention, especially in the context of oil markets and potential geopolitical risks.
-Although the current developments in the Middle East may cause disruptions in the supply of petroleum derivatives on a global level, the Republic of Macedonia as a country has ensured a reliable flow and import of derivatives from several different sources and countries. This diversification of suppliers, combined with strategic state reserves and the functioning Thessaloniki-Skopje product pipeline, ensures the smooth and stable functioning of the petroleum derivatives market. This guarantees that citizens and the economy will not experience a shortage, and the country remains fully prepared to react in a timely manner if any disruption to supply occurs, say MERMS.
At this moment, they add, state reserves are stable and according to available information, our country is among the most prepared in the region in terms of coverage and security of supply.
-As a preventive measure, if a possible problem arises on the market tomorrow, the state has reserves of all types of oil derivatives, namely: Eurodiesel - 138.877.053 liters; Eurosuper BS-95 - 32.098.680 liters; Extra light household oil (EL-1) - 10.772.342 liters; and Mazut M-1 NS - 5.287.794 kilograms, MERMS specifies.
In addition to strategic reserves, they emphasize, regular procurement of oil derivatives takes place several times throughout the year, and reserves are replenished continuously and appropriately, in accordance with consumption dynamics and legal obligations.
-Thereby, we ensure stability, predictability and security in the supply of citizens and the economy. Oil reserves are safely stored at authorized trading companies - warehouses, namely in OKTA - Oil Refinery, Makpetrol AD Skopje, Lukoil Makedonija DOOEL and Super Trade DOOEL. These capacities are regularly monitored and controlled by the competent state authorities, in order to ensure complete safety, technical correctness of the storage facilities and timely availability of reserves if the need arises. With this system of supervision and control, the security of state reserves and the stability of supply are guaranteed, MERMS points out.
As they say, if a potential problem with imports arises for any reason – border closures, disruptions, strikes or blockades – the state has also provided an additional security mechanism.
-The Thessaloniki-Skopje product pipeline is in operation, which, through its connection to Thessaloniki, provides an alternative and uninterrupted flow of all types of oil and oil derivatives, which significantly increases the stability of the system and reduces dependence on other transport routes. At the same time, the Agency continuously monitors the daily consumption of oil derivatives, in order to maintain state reserves in accordance with the legally prescribed level and the real needs of the market. The system is set up preventively, with multi-layered protection - through strategic reserves, alternative transport corridors and constant monitoring of consumption - which guarantees energy security and stability, MERMS emphasizes.
They emphasize that the Agency for Mandatory Oil Reserves has a legal obligation to establish and maintain state reserves of oil and oil derivatives in accordance with European regulation, i.e. Directive 2009/119/EC, which prescribes mandatory minimum coverage for a certain number of days of average consumption or import.
-These state reserves represent the strategic security of the system. They are kept as a security mechanism and are not used in regular market conditions, but exclusively by decision of the Government, in the event of a declaration of an energy crisis or a serious disruption of supply. Currently, the import of oil derivatives is fully liberalized and is taking place smoothly, without restrictions or delays. As a Ministry, we are closely monitoring the situation on international markets, especially in the context of current geopolitical developments and the military conflict in the Middle East. If a possible shortage or interruption occurs that could threaten supply, the Government will react promptly and appropriately, in the interest of citizens and the economy, the Ministry of Energy, Mining and Mineral Resources said.
