Montenegro is progressing in its initiative to establish a mandatory strategic petroleum reserve as private fuel companies have met their obligations. Meanwhile, the government is preparing to acquire additional diesel for state-controlled emergency reserves.
The framework for reserves, effective from July 1, 2026 to June 30, 2027, mandates that Montenegro maintain oil stocks equivalent to 90 days of net imports, aligning with European Union energy security standards.
The Ministry of Energy and Mining confirmed that private petroleum companies have fulfilled their assigned responsibilities under the existing system. The state plans to procure more diesel through a public call managed by the Hydrocarbons Administration.
Authorities intend to enter the market when conditions are deemed favorable, although no specific quantity or value for this additional purchase has been disclosed yet.
It is essential to note that while the private sector has completed its part, this does not guarantee that Montenegro has achieved the full 90-day reserve requirement. The state purchase remains a critical component of the overall strategy.
Additionally, Montenegro is enhancing its strategic storage infrastructure at the Port of Bar, where three state-owned tanks are being prepared for emergency oil stocks, with a combined capacity of approximately 17,600 cubic metres.
This program holds significant importance as Montenegro relies heavily on imported petroleum products. Any disruption in regional supply chains or refinery operations could adversely impact sectors such as transport, construction, tourism, and food distribution.
The establishment of strategic reserves allows authorities to manage temporary disruptions without immediately resorting to emergency imports. This system also imposes new working-capital and storage requirements on fuel distributors.
Fuel companies have emphasized the need for clearer regulations regarding stock levels, excise treatments, and the timing of regulatory changes to facilitate efficient purchasing plans. They have called for more predictability in excise-duty decisions, especially following recent adjustments in fuel-tax relief due to international market fluctuations.
The next significant action will be the procurement of diesel by the state. When combined with private stocks and enhanced storage capabilities, this move will bring Montenegro closer to meeting the 90-day requirement.
This reserve program exemplifies how EU accession is resulting in direct infrastructure investments and inventory costs while bolstering resilience against external energy shocks.
