North Macedonia: OKTA recorded 2.3 million profit in Q1 2021

, SEE Energy News

In the first quarter of the year, North Macedonian oil refinery OKTA, owned by Greek Hellenic Petroleum recorded a net profit in the amount of 2.3 million euros, compared to a net loss of 4.75 million euros recorded in the same period last year. The company’s sales revenues dropped by 13.4 % in the first three months of 2021, reaching 53.6 million euros, of which 53.6 million euros was achieved in the domestic market (17.2 % decrease compared to Q1 2020) and 16.3 million euros on the foreign markets, which is 6 % more compared to last year’s first quarter. 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.