Serbia’s mandatory oil and fuel reserves are stored both within the country and abroad (through “tickets”), according to the Ministry of Mining and Energy, as reported by Forbes Serbia. The ministry emphasized that information on the exact locations is confidential.
The confidentiality is in line with regulations outlined in the Rulebook on the Management of Mandatory Oil and Fuel Reserves. However, publicly available documents indicate that Serbia stores its reserves at Transnafta facilities, the Republic Directorate for Commodity Reserves, and Naftna Industrija Srbije (NIS). In addition, private storage companies, including Mitan Oil and Euro KB Rent, hold part of the reserves. Serbia also maintains reserves at two storage facilities in Germany, under contracts granting option rights to purchase fuel derivatives.
New storage tanks in Smederevo are currently in the process of obtaining operational permits. Strategic documents and the proposed new law on mandatory reserves foresee the possibility of constructing storage through public-private partnerships.
Size of the reserves
The Ministry told Forbes Serbia on December 1 that the most recent inventory shows Serbia’s reserves at a level equivalent to 44 days of average daily net imports. They also confirmed that no decision has been made to release oil, fuel, or natural gas from mandatory reserves as of December 1.
According to international obligations, mandatory oil and fuel reserves must reach either 90 days of average daily net imports or 61 days of average daily consumption, depending on which quantity is greater. The use of reserves requires a government decision and activation of the action plan.
Recognized need for additional storage capacity
Regarding storage capacity in Serbia, the Ministry stated that, due to growing consumption and EU directives, there is a recognized need for new storage facilities.
Currently, the process to obtain operational permits for six new 20,000-cubic-meter fuel tanks in Smederevo is underway. Expansion of the Banatski Dvor underground gas storage is also in progress.
According to the Energy Agency, in 2024 the largest storage capacities were held by NIS, Transnafta, EPS, Mitan Oil, MOL Serbia, Naftachem, VML Energy, and EURO KB Rent.
Forbes Serbia also inquired with the Republic Directorate for Commodity Reserves about the amount of oil and fuel derivatives in commodity reserves and whether commodity and mandatory reserves are stored separately, but no response was received.
Ongoing state storage projects
The Central Registry of Unified Procedures (CEOP) shows that as early as 2016, the Republic Directorate for Commodity Reserves obtained a construction permit for two 5,000-cubic-meter fuel tanks (R5 and R6) at the Požega fuel storage site. However, these tanks have not yet received operational permits. The last permit application was rejected in July as “incomplete,” and a new application has since been submitted.
The Požega storage facility has been operational for decades and currently contains seven additional tanks with a total capacity of 32,700 cubic meters, in addition to the two awaiting approval.
