Serbia, Oil companies will be obliged to secure fuel reserves

, News Serbia Energy

According to new regulation, from this year, besides the mandatory reserves of oil and oil products, oil companies will be obliged to secure so-called operating fuel reserve for four days.

The regulation is introduced in order to harmonize with EU directives which stipulate two-month and three-month reserves of raw oil and oil products for all EU member states.

Within the first six months of the year, all oil companies operating in the Serbian market will have to buy or rent storage facilities for the
purpose of operating fuel reserves. After July 2022, they will need to have a stock of oil products for four days of their average consumption from last year.

Deputy Energy Minister Rasa Kojcic said that the reserves managed by the Ministry are currently sufficient for thirty and a half days, which is 30 % more than last year, with the goal of reaching 65 days of the average consumption in 2022.

The new regulations also include the obligation to put diesel and petrol mixed with biofuels on the market. The percentage of the share of biofuels in the derivative product will be 0.5 % until the end of 2022, and in 2024 it will be increased to 1 %.