METE penalises the oil importers

The Albanian Ministry of Economy, Trade, and Energy enacted a number of regulatory controls on oil importers. According to Albanian law, oil importers are obliged to keep stored emergency reserves of a least 60 days average sale. The controls revealed that a number of oil importers had failed to respect the law. Inspections revealed that some small oil importers have no emergency reserves at all, while others do not store the required quantity. The quality of the emergency reserves was reportedly up to the standard. METE fined the companies and warned that it shall repeat its findings in order to see if the companies meet the requirements of the Albanian law. From 2010, oil importers are going to be obliged to store, as emergency reserves, at least 90 days of average sales. (Tirana Times Staff)