Karakaçi: There were no abuses with the oil price. We are creating the State Agency, 90-day deposit for full hydrocarbon security
Minister of Energy and Infrastructure Enea Karakaçi, in his speech during the meeting with oil suppliers, stated that up to now there have been no abuses with the price of oil.
He stated that the blockage of the Strait of Hormuz has not impacted hydrocarbon circulation in our country, as supply channels are through other mechanisms.
"One of the main measures is the element of product security and the availability of hydrocarbon products on the market. Currently, each of the hydrocarbon companies operating in Albania has been sent a notification regarding the obligation of the hydrocarbon reserve to be maintained in 2026, which has been calculated based on the daily turnover of the previous year, and the ministry's field groups have also been notified to the entities to carry out the necessary verifications by March 31.
"The blockade of the Strait of Hormuz has not impacted the hydrocarbon circulation in our country, as the supply channels are through other mechanisms or routes. We have not seen any price abuses so far," the minister declared.
The latter added that within 2-3 weeks, the government will approve the new draft law on the hydrocarbon security reserve, which foresees the creation of a Special Agency, where a 90-day hydrocarbon security reserve will be maintained.
"Two elements that the ministry has in focus as a result of a long-term plan: it has been working for two years on the new Law on Hydrocarbon Security Reserve. It is in the final phase for the approval of the draft law that meets the needs of the EU directive and the country. Within 2-3 weeks, this draft law will be approved by the government. It foresees the creation of a special agency and now the hydrocarbon security reserve will no longer be held by hydrocarbon trading entities, but will be held by the State Agency which will deposit it in its own or rented deposits. By creating a minimum 90-day deposit of the product in the country to have complete and total hydrocarbon security.
"The structure of the fuel price at the end point in Albania is such that the value of imports accounts for the largest part, it has its own volatility as a result of the crisis," he emphasized.
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