Tuesday marks five months since the outbreak of the military conflict between Iran and the US, with the participation of Israel. After several unsuccessful attempts to quell it, the situation is now more of a stalemate. There have been no active hostilities for days. There has been talk again of peace negotiations, but the Strait of Hormuz remains blocked for shipping. And oil prices have started to rise again - last week they briefly reached $100 per barrel.
„There is still no problem with oil supplies in our country and I hope there won't be. Two days ago we spoke with representatives of the refinery. I can say that the necessary quantities of crude oil have been secured until mid-September. Further deliveries are also planned, so at the moment the situation seems calm in terms of fuel supply in the country. This was stated in the "Interview in NOVA News" by the chairman of the Bulgarian Oil and Gas Association, Svetoslav Benchev.
According to him, the only more serious concern for now is related to the price of propane-butane. "With it, the quotes are not determined daily, as is the case with other petroleum products, but on a monthly basis. We expect the new monthly price, which will most likely be higher due to what is happening in the Middle East. There will probably be some price increase", he explained.
According to him, no difficulties with availability are expected in the next month and a half. “As of today and for the next month and a half or so, supplies are assured. After that, everything depends on the development of the international situation. We are doing everything possible and I am convinced that there will be no problems“, Benchev expressed hope.
He also commented on the rise in prices at gas stations. “In addition to the price of crude oil, the quotes of finished petroleum products are also important. A refinery cannot sell at a price lower than international quotes. However, if we look at the statistics, Bulgaria continues to be among the countries with the lowest prices for gasoline and diesel in the European Union. The only exception is Malta, which is a specific case“, Benchev emphasized.
According to him, the price increase is a consequence of the international situation: “Yes, prices have increased, especially for diesel - by about 16% in one week. However, this is a result of processes on international markets. Unfortunately, we cannot escape them“.
The topic of derogations also remains key for the work of the Burgas refinery. “The American derogation expires on October 29. Before that, on August 13, the derogation under the British sanctions also expires. The government is working on both issues. In my opinion, it is important that decisions are made earlier, because supplies to the refinery must be confirmed in advance. If there is clarity even 20-30 days earlier, this will provide additional certainty that there will be no problems with crude oil supplies“, Benchev pointed out.
He warned that if the crisis in the Middle East continues, the consequences could be serious. But he reassured: “For now, our country is relatively well. We have a working refinery and secured supplies, which puts us in a better position than some European countries that have closed their own refineries and rely entirely on imports of finished fuels“.