North Macedonia: Big loss at OKTA in first half of the year

, SEE Energy News

In the first half of 2020, North Macedonian oil refinery OKTA, owned by Greek Hellenic Petroleum recorded a net loss in the amount of 3.4 million euros, compared to a net profit of 0.5 million euros recorded in the same period last year. The company’s sales revenues dropped by 38 % in the first six months of 2020, reaching 126.4 million euros, of which 100.5 million euros was achieved in the domestic market (37 % decrease compared to H1 2019) and 24.3 million euros on the foreign markets, which is 43 % less compared to last year’s first half. OKTA remains the main supplier of fuel in Macedonia, covering more than half of the needs of the domestic market and significant exports to Kosovo. The company owns Skopje refinery with installed capacity of 2.5 million tons.