Fuel would be cheaper if FBiH had been faster in rebuilding oil terminals

SARAJevo, (Patria) - The Federation of Bosnia and Herzegovina is finally getting oil derivative supplies after 25 years. Namely, after the reconstruction works on the terminal in Bihać began earlier, reconstruction works have now been launched on the terminal in Sarajevo in the Municipality of Ilidža in the settlement of Blažuj.

Hermedin Zornić, President of the Management Board of the company Operator – Terminali Federacije, when launching the reconstruction works on the terminal in Blažuj, emphasized the importance of the terminal, especially in the current situation of rising oil and oil derivative prices due to Russia's invasion of Ukraine.

“The moment we fill our mandatory reserves, which are required on a quarterly basis for the total goods sold during the fiscal year, we can respond with these capacities and dimensions so that these, let me say, price wildlings that we are witnessing do not happen (...) We would, through the relevant ministry (if we had reserves, our note), release quantities to stop this wildling,” Zornić explained.

To a journalist's question, whether the prices would be above 3 KM, Zornić said:

“No, no, no,” Zornić said categorically.

In addition to Bihać, where the works should be completed within the next year, and the terminal in Sarajevo, another one is planned in Mostar, where the works should begin by the end of the year.

We remind you that the company Operator – Terminali Federacije originated from the company Energopetrol, meaning its wholesale capacities remained the property of the Federation of BiH, becoming a separate legal entity, while the rest of the Energopetrol company was taken over by the INA/MOL consortium.

The Federal Minister of Energy and Mining, Nermin Džindić, stated that “there will be no change in the price of gas and electricity until 01/01/2023.”