As of this year, oil companies in Serbia must provide fuel reserves

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The energy crisis that shook the world pointed to the necessity of strategic energy reserves. In addition to the “mandatory reserves of oil and derivatives” formed by the state, in our country as of this year, oil companies must provide so-called “operational fuel reserves for four days”, introduce diesel and gasoline with biofuels and apply new labels for derivatives valid in the EU.

European Union countries have two-month and three-month reserves of crude oil and derivatives. Our country is gradually harmonizing this directive. In addition to “required reserves”, “operational reserves” of oil companies operating in our market will contribute to this this year: in the first six months they must build or lease warehouses, and in July they must have derivatives in stock for four days of their average consumption from the previous year.

“It will actually be a degree of security of market supply, so that some of the disturbances that may occur in a shorter period of time can be overcome by using these operational reserves,” explains Tomislav Micovic, Secretary General of the Association of Oil Companies of Serbia.

Rasa Kojcic, Assistant Minister of Mining and Energy, points out that at the moment we have reserves in the energy reserves managed by the Ministry of Energy for thirty and a half days, which is 30 percent more than last year.

“Our plan is for the reserves to reach the level of 65 days of average consumption in 2022,” Kojčić points out.

Another obligation is to market diesel and gasoline with biofuel. The percentage of the share of that pure fuel in the derivative by the end of 2022 will be 0.5 percent, and in 2024 it must be increased to one percent.

“European labels should be introduced, which also exist in the Serbian standard for labeling types of fuels, which includes labeling the share of biofuels found in gasoline or diesel,” says Tomislav Mićović.

Unique, Latin labels for all derivatives will replace the old ones on all refueling machines, RTS reports.