Tag: oil
World 19.12.23 | 20:03

Bulgaria will cease importing oil from Russia in March

Bulgaria’s parliament decided to halt crude oil imports from Russia starting March 1, even though they had permission from the EU to continue until October 1. The amendment, driven by the pro-Western governing majority, also stops the export of products made from Russian crude oil from January...
Economy 07.03.23 | 18:43

Negotino power plant will spend 210 million EUR on oil this year

With the closure of TEC Oslomej – one of the two auxiliary thermal fired power plants in Macedonia – the Government approved a transfer of 210 million EUR to TEC Oslomej, to enable this oil fired plant to purchase sufficient quantities of oil. Both the Oslomej (near Kicevo) and Negotino plants...
World 10.05.22 | 11:46

EU and Hungary make progress in talks on Russian oil sanctions

European Commission President Ursula von der Leyen said that she made progress while discussing the issue of Russian oil sanctions with Hungarian Prime Minister Viktor Orban in Budapest. Hungary resists imposing full oil sanctions on Russia citing the damage its economy will suffer, especially at a time...
Economy 09.05.22 | 15:23

Even as we face shortages of cooking oil, the Government plans to export it to Albania

Even as Macedonia is facing shortages of cooking oil, and is forced to ask Serbia for new deliveries, the Government agreed to export oil to Albania. The announcement came after a meeting of the Macedonian Economy Minister Kreshnik Bekteshi and the Albanian Finance Minister Delina Ibrahimaj. Macedonia...
World 07.05.22 | 14:56

PM Orban: Brussels’ oil embargo plan tantamount to a nuclear bomb

The EU’s proposal to impose a complete Russian oil embargo is unacceptable, Hungarian PM Viktor Orban told public radio on Friday, adding that it would be tantamount to dropping an atomic bomb on Hungary’s economy, the V4 news agency reported. Hungary’s prime minister emphasized that the...
Economy 04.05.22 | 10:51

EU announces a gradual embargo on Russian oil

European Commission President Ursula von der Leyen announced a gradual ban on import of Russian oil, as a new form of sanctions due to the war in Ukraine. Von der Leyen said that this is part of the sixth package of European sanctions against Russia. Russia is a major oil and gas exporter to Europe....
Macedonia 11.12.21 | 14:31

Energy crisis: Attempts are made to restart an oil fired generator that has been left idle for over a decade

With Macedonian domestic electricity production in collapse, after the years of mismanagement and corruption of the REK Bitola coal plant, the state owned ELEM energy company will try to restart the TEC Negotino oil fired plant. The plant hasn’t been turned on for 12 years, as it was too costly...
Macedonia 24.11.21 | 23:09

Company that owned the ill-fated bus denies reports that it was smuggling cheap Turkish fuel

“Besa Trans”, the tour agency that operated the bus that crashed and burnt down in Bulgaria on Tuesday morning with the loss of 45 lives, claims that it was not secretly transporting cheap diesel oil from Turkey or pyrotechnics for the coming New Year celebrations. These two allegations are...
Macedonia 23.11.21 | 21:28

Petty gas smuggling is a possible cause of the deadly bus disaster

More and more Bulgarian media outlets are reporting eyewitnesses saying that a possible reason why the BESA Tours burnt down so quickly is that it was carrying extra fuel. The bus was returning from a long weekend tour to Istanbul, and Turkey currently has far lower gas prices than Macedonia or Bulgaria. The...
Macedonia Economy 21.10.21 | 10:07

Fuel prices are set to go over 80 denars per liter

Gas prices are set to go over 80 denars per liter, the VMRO-DPMNE party warned, as inflation continues to erode living standards. Prices of milk, meat, cooking oil, flour and other staples have gone up 20 percent since last year. Life gets more expensive and incomes remain the same. Fuel prices are set...
Macedonia 24.06.21 | 13:22

Zaev’s new gas tax expected to extract 54 million EUR from the citizens directly, while causing indirect price hikes

Zoran Zaev will extract additional 54 million EUR from our citizens with the new fuel tax, VMRO-DPMNE said. The Zaev regime yesterday announced a new tax on fuels, which will amount to 3.5 denars per liter of diesel and 3.1 denars per liter of unleaded gas. Zaev dismissed concerns from the citizens,...
Macedonia 11.06.21 | 18:03

Company that was importing harmful heating oil stripped of its license

The DPI state market inspection temporarily revoked the trading license from the Evrotim GDS company from Kicevo. The company was found to import harmful heating oil from the Czech Republic, through a Bosnian company. The fuel was used by several factories, including Brako, owned by former Deputy Prime...
Macedonia 16.01.21 | 14:25

A private company donated fuel to freezing students – and the SDSM party tried to claim credit

One of the biggest publicly managed student dorms in Skopje, “Kuzman Josifovski – Pitu”, was left without heating for over a week. The crisis, that happened as temperatures dropped quickly across the country, prompted the management to urgently seek a donation from the Gulf Oil company,...
Economy 13.07.20 | 13:18

Gas prices go up again

Gasoline prices will go up today by between 0.5 and 1 denar per liter this evening. The Energy regulatory committee justified its decision with the increase in oil prices in global markets. The BS-98 fuel will increase in price by 0.5 denars and will cost 63.5 denars per liter, while BS-95 and the diesel...
Economy 23.04.20 | 10:41

VMRO-DPMNE: People close to SDSM are profiteering from the increased gas tax

VMRO-DPMNE says that people close to the SDSM led Government are profiteering off of the oil trade, abusing the lower import duty for heating oil. The opposition party points to the fact that Macedonia normally spends about 5 million liters of household heating fuel, but imports 55 million liters of...
Economy 21.04.20 | 08:48

US oil prices turn negative as demand dries up

The price of US oil has turned negative for the first time in history, BBC reported. That means oil producers are paying buyers to take the commodity off their hands over fears that storage capacity could run out in May. Demand for oil has all but dried up as lockdowns across the world have kept people...
Macedonia 13.04.20 | 19:51

Mickoski: SDSM leaders are hiking the gas tax for personal, lucrative reasons

VMRO-DPMNE President Hristijan Mickoski said that the decision by the SDSM led Government to increase the gas tax at a time of unprecedented economic crisis is driven by lucrative interests of people close to the ruling party. The gas tax was hiked by two denars per liter, preventing the full effect...
Economy 12.04.20 | 19:21

Finance Minister Angelovska defends her gas tax hike

Finance Minister Nina Angelovska defended the option of a gas tax hike to try and fill in the budget hole that is rapidly growing. With record low gas prices providing a rare piece of economic good news, the Ministry decided to hike the tax by between 2 and 3 denars per liter. Angelovska insisted that...
World 16.09.19 | 12:57

Trump suggests US is ready to retaliate after attacks on Saudi oil

President Donald Trump has suggested that the United States is ready to retaliate for weekend attacks on major oil facilities in Saudi Arabia. “Saudi Arabia oil supply was attacked. There is reason to believe that we know the culprit,” Trump tweeted on Sunday. The US is ready to retaliate: “[We]...

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