Romania: INVL Renewable Energy...

INVL Renewable Energy Fund I, managed by INVL Asset Management and focused on...

Croatia: Summary of Guarantees...

On 29 July, a total of 231,827 Guarantees of Origin (GOs) were sold...

Bulgaria: TPP Maritsa 3...

Bulgarian thermal power plant Maritsa 3 reported a net loss of €2.7 million...

Bulgaria: Bobov Dol thermal...

The Bulgarian thermal power plant Bobov Dol posted a net profit of approximately...
Supported byClarion Energy
HomeSEE Energy NewsMontenegro to reissue...

Montenegro to reissue tender for oil storage reconstruction in Bar

The Montenegrin Ministry of Mining, Oil, and Gas will relaunch the public tender for the reconstruction of oil storage tanks in Bar, designated for the country’s strategic oil reserves, after no bids were received in the initial process.

The original tender, announced at the end of last year, had a submission deadline of February 12. Despite interest from potential bidders, no offers were submitted, as some companies required additional time to prepare documentation for the complex project. The planned reconstruction is expected to take nine months.

To ensure a high-quality and competitive selection process, the Ministry will promptly issue a new call with further details for interested companies.

Strategic importance and funding

In December, Parliament passed the Oil Supply Security Act, a key legislative measure for closing Chapter 15 in EU accession talks. The law mandates the establishment of strategic oil reserves to safeguard against supply disruptions or emergencies.

The government has allocated €1.5 million from a €7.5 million EU grant for the modernization of the Bar storage facility, while the remaining funds will be used for purchasing oil reserves. Between now and 2028, €44.5 million will be required to fully establish these reserves. A portion of the funds will be raised through a fuel surcharge of €0.03 per liter, introduced on February 10.

Supervision and industry contributions

A separate tender to select a supervisory consultant for the project was launched last year, with bid submissions closing in late January. The evaluation process is still ongoing, and results will be announced upon completion. The consultant’s role will be crucial in ensuring quality compliance during the storage facility’s modernization.

Montenegro’s Hydrocarbon Administration and fuel importers handling 15,000+ tons of gasoline or diesel annually are required to establish mandatory oil reserves. Oil companies Jugopetrol, INA Montenegro and Petrol Montenegro will also contribute alongside the government.

This initiative is part of Montenegro’s broader energy security strategy, ensuring compliance with EU regulations and reinforcing national preparedness for potential supply disruptions.

Supported byOwner's Engineer banner

Recent News

Supported byspot_img
Supported byspot_img

Latest News

Supported byspot_img
Supported bySEE Energy News

Related News

Serbia: US Treasury extends sanctions delay on NIS for fifth time

The US Treasury Department has postponed the activation of sanctions on Serbian oil company NIS for an additional 30 days, marking the fifth extension since January. Serbian Energy Minister Dubravka Djedović noted that securing a further, longer reprieve is currently...

Romania: INVL Renewable Energy Fund I secures €29.3 million loan for 71 MW solar project

INVL Renewable Energy Fund I, managed by INVL Asset Management and focused on renewable energy projects, has obtained a €29.3 million loan from Kommunalkredit Austria to finance the construction of a 71 MW solar power plant in Dolj County,...

Croatia: Summary of Guarantees of Origin auctions for electricity held on 29 July

On 29 July, a total of 231,827 Guarantees of Origin (GOs) were sold in auctions organized by HROTE and ENNA Next. These auctions were conducted in five parallel sessions via CROPEX’s IT trading platform, covering GOs from wind, biogas,...
Supported byVirtu Energy
error: Content is protected !!