Law on security of supply of petroleum products.

This Law, in order to ensure the security of supply of petroleum products to Montenegro, here regulates the maintenance of mandatory reserves of petroleum products and the resolution of disruptions in the supply of petroleum products. Maintenance of mandatory reserves of petroleum products includes the formation, storage and control of the quality and quantity of mandatory reserves. Resolution of disruptions in the supply of petroleum products includes: prevention of disruptions in the supply of petroleum products; ensuring the smooth functioning of the trade in petroleum products in the event of a disruption in the supply of these products; fulfillment of obligations assumed by ratified international agreements in the field of security of supply of petroleum products of the Member States of the European Union and/or the Energy Community. The Ministry shall calculate the quantity of mandatory reserves of petroleum products on the basis of the equivalent of crude oil in imports or domestic consumption during the previous calendar year, by taking into account: import, export and consumption of petroleum products; effective quantity of mandatory and commercial reserves of petroleum products.