Montenegro Imported 108 Million EUR Worth of Oil and Oil Derivatives in 2019

By , 24 Aug 2019, 00:01 AM Business
Montenegro Imported 108 Million EUR Worth of Oil and Oil Derivatives in 2019 Copyrights: Pixabay

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23 August 2019 - Montenegro has imported more than 185.712 tonnes of oil and its derivatives worth 108,33 million EUR since the beginning of the year, said the representatives of Customs Administration, writes Cafe del Montenegro.

Most oil has been imported through more than 60 companies from Serbia, 25 German companies, around 14 companies from Croatia and Bosnia and Herzegovina and 5 Albanian companies.

Oil and its derivative have come to Montenegro from Japan, through Daido Metal company, British company Border Holdings Limited, the Dutch oil company, Briggs & Stratton and Latvian Uab Sct Lunricanst.

This year’s Montenegrin oil importers are Ina company, Jugopetrol, Voli Motors, Adriatic Marinas from Tivat, Port of Bar, Uniprom Energy Podgorica, Trebjesa… Chinese CRBD company also imports these products into Montenegro.

As far as oil and gas research is concerned, two studies have been carried out. The first one lasted from 19 November to 18 December and was carried out by Italian-Russian concessionaire Eni-Novatek. Findings of the research will be known by the end of September, whereas findings of the other research will be presented in the fourth quarter of the year.

Montenegro imports oil and its derivatives for re-exportation too.

"The re-exporting process does not include remaining quantities of regular import but quantities intended for the needs of re-export," explained the representatives of Customs Administration.

Private companies make a profit in this process, and the representatives of Customs Administration of Montenegro also spoke about the price of re-exportation.

"Average price for this year amounts to 0,56 EUR per liter. Re-exportation process refers to the procurement of ships and yachts in international traffic," concluded the representatives of Customs Administration.

Read more news about business in Montenegro at TMN's dedicated page.

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