Montenegro’s Hydrocarbons Administration will purchase its first portion of oil reserves in the fourth quarter of this year, according to the Ministry of Energy and Mining. Part of the reserves will be stored in state tanks in Bar once they are adapted, while additional storage capacity will need to be leased either domestically or abroad.
Importers of oil products must secure their share by the end of September. Together with state reserves, this will cover about two-thirds of the legal obligation. The ministry expressed confidence that deadlines will be met, ensuring the country’s energy security.
The adaptation of storage tanks in Bar has been delayed after two failed tenders — one due to low pricing and the other because none of the bids met requirements. A new tender will be announced soon with stricter technical and administrative conditions. If Bar facilities are not ready on time, alternative storage will be arranged domestically or abroad.
The second tender, valued at €2.22 million, was canceled after both offers were deemed invalid. Officials explained that such specialized projects require foreign expertise, as local firms lack the necessary experience.
Funding is secured through EU budget support, which allocated €7.5 million for reserve formation and storage adaptation. Additionally, a three-cent fee per liter of fuel, introduced in February, will continue until 2028 to finance the reserves.
By law, 85% of the reserves will be diesel and the rest unleaded gasoline. At least half will be maintained by the Hydrocarbons Administration, with the remainder provided by private importers.
