It’s still unknown when Montenegro is going to have oil deposits and where they are going to be kept because the main precondition for their formation is the adoption of the law on oil supply security. The public debate on the draft law was finished three years ago, while the Ministry of Economy is stating that the proposal for the law is going to be passed in “due course“.
However, representatives of the Ministry could not say how much the formation of oil deposits would cost and where they are going to get the money for it, but stated that they will be using “the best European practice and experience”.
“The adoption of the law on oil supply security will enable the formation of bodies that, after considering the possibilities, consumption of oil products and the state of storage capacities, will be able to define deadlines for the full implementation of the obligation to form strategic deposits,” the Ministry of Economy told Pobjeda daily.
They also noted that in line with the European Council Directive and proposal for the law, the formation of oil derivatives will fully ensure supplying consumers with all types of oil derivatives in the event of a global supply disruption.
