Montenegro: Crude oil and petroleum products reserve strategy

Montenegro has oil storage capacities located in Bar, Lipci and Bijelo Polje, but these facilities are in really bad shape and require repairs.

Montenegrin Government said that it is planning to establish a strategic reserve for crude oil and petroleum products, intended to be used in case of disrupted supply.

The statement from the Ministry of Capital Investments said that the law on petroleum products reserves has already been drafted and is expected to be adopted in the third quarter of 2021, following the approval of the European Commission. The adoption of such law is a part of Montenegro’s pre-accession agreement with the EU.

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