From February 11 to September 16, Montenegro collected €8.45 million from the mandatory oil reserves fee included in fuel prices, and the Ministry of Energy and Mining (MER) expects total revenue of around €11 million by the end of the year.
According to a government-adopted report, Montenegro is significantly behind in forming mandatory reserves, which should amount to about 112,000 tons. To meet this obligation, MER stresses the need to purchase as much oil as possible in 2025, using collected funds. The government must approve the €11 million allocation so the Hydrocarbons Administration can launch a public procurement process for eurodiesel this year.
By law, the Administration and the three largest fuel importers must form reserves, with the Administration responsible for half the total. Two of the companies—Jugopetrol, INA Montenegro, and Petrol Montenegro—have partially met obligations, while the third is expected to do so by the end of September.
The action plan foresees the Administration purchasing 14,000 to 17,000 tons of eurodiesel in 2025, depending on market conditions, storage capacity, and available funds, including €3 million of EU support, which has not yet been paid.
Progress is also delayed due to problems with adapting storage tanks at the Port of Bar. The first tender failed due to lack of bids, and the second was canceled because one bidder lacked a bank guarantee and another had tax debt. A third tender has not yet been announced, meaning Montenegro will need to rent storage capacity longer than planned.
The Hydrocarbons Administration has stated it will secure alternative storage in Montenegro or abroad under the best market conditions. MER emphasizes that, despite delays, the government remains committed to ensuring stable supply and protecting the interests of citizens and the economy.
