The Ministry of energy, mining and mineral resources is closely monitoring the current energy situation, especially in the context of oil markets and potential geopolitical risks.
Within its competencies, the Ministry informs the public that the Compulsory Oil Reserves Agency continuously monitors and maintains the state oil reserves and oil derivatives, ensuring supply security, market stability and readiness for timely reaction in case of any disruption of imports or supply.
The Compulsory Oil Reserves Agency – MACORA has a legal obligation to form and maintain the state oil reserves and oil derivatives in accordance with European regulations, specifically Directive 2009/119/EC, which prescribes a mandatory minimum coverage of average consumption or imports for a certain number of days.
These state reserves represent the strategic security of the system. They are kept as a safety mechanism and are not used under regular market conditions, but exclusively by a Government decision, in cases of a declared energy crisis or serious disruptions in supply.
At present, the import of oil derivatives is fully liberalized and is proceeding smoothly, without restrictions or delays. As a Ministry, we are carefully monitoring the situation at the international markets, especially in context of current geopolitical events and the armed conflict in the Middle East. If a potential shortage or interruption arises that could jeopardize the supply, the Government will react in a timely and appropriate manner in the interest of citizens and the economy.
At this moment, the state reserves are stable and according to the available information, our country is among the best prepared in the region in terms of coverage and security of supply.
If a potential market problem were to occur tomorrow, as a preventive measure, the country has oil derivatives reserves of all kinds:
· Eurodiesel – 138.877.053 liters
· Eurosuper BS-95 – 32.098.680 liters
· Extra light household oil (EL-1) – 10.772.342 liters
· Fuel oil M-1 NS – 5.287.794 kilograms
In addition to the strategic reserves, the regular procurement of oil derivatives occurs multiple times throughout the year, and the reserves are continuously and appropriately replenished in accordance with consumption dynamics and legal obligations. As a result, we ensure stability, predictability and security in supplying citizens and the economy.
The oil reserves are safely stored at the authorized commercial storage companies, specifically at: OKTA– Oil Refinery, Makpetrol AD Skopje, Lukoil Macedonia DOOEL and Super trejd DOOEL.
These capacities are regularly monitored and inspected by the competent state authorities to ensure complete safety, technical integrity of the storage facilities and timely availability of the reserves if needed. With such a system of supervision and control, the security of the state reserves and the stability of supply is guaranteed.
If a potential problem with imports arises for any reason–border closures, interruptions, strikes or blockades–the state has an additional safety mechanism. The Thessaloniki-Skopje product pipeline is operational, and, through its connection with Thessaloniki, ensures an alternative and uninterrupted flow of all types of oil and oil derivatives, significantly increasing system stability and reducing the dependence on other transport routes.
At the same time, the Agency continuously monitors the daily consumption of oil derivatives to ensure that state reserves are maintained at the legally prescribed level and in line with the real market needs.
The system is set preventively, with multilayer protection–through strategic reserves, alternative transport corridors and continuous monitoring of the consumption–guaranteeing energy security and stability.
Although the current events in the Middle East may cause disruptions in the global supply of oil derivatives, the Republic of North Macedonia has ensured secure flow and import of derivatives from several different sources and countries. With this diversification of suppliers, combined with the strategic state oil reserves and the operating Thessaloniki-Skopje product pipeline, uninterrupted and stable functioning of the oil derivatives market is ensured.
Therefore, it is guaranteed that the citizens and the economy will not experience shortages, and the state remains fully prepared to react promptly in the event of any supply disruption.
With regards,
Ministry of energy, mining and mineral resources