North Macedonia: Decreased profit at OKTA in 2020

, SEE Energy News

In the first nine months of 2020, North Macedonian oil refinery OKTA, owned by Greek Hellenic Petroleum recorded a net profit in the amount of 1.1 million euros, which is a 60 % decrease compared to the same period last year.

The company’s sales revenues dropped by 43 % in the first nine months of 2020, reaching 186.8 million euros, of which 151 million euros was achieved in the domestic market (42 % decrease compared to H1 2019) and 35.8 million euros on the foreign markets, which is 47 % less compared to last year’s nine months. OKTA remains the main supplier of fuel in North 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.