Europe must readjust its policy regarding fuel consumption. It has readjusted it regarding the sources from which it draws fuel – obviously, if the Persian Gulf is closed, alternatives must be sought – and all European countries found such and there was no shortage in domestic markets. He commented on this on the air of “Your Day” Andrey Delchev from the Bulgarian Oil and Gas Association.
“But in terms of reduced energy consumption, especially of petroleum products, increased electromobility and everything else, these are things that of course have to happen”, he said.
According to him, regarding Bulgaria, the refinery has secured fuels at least until mid-September, and is negotiating for a further period. And since there are already other sources besides the Persian Gulf, there should be no shortage in Bulgaria, predicts Andrey Delchev.
„The market is satisfied and although in the last two days, since the military actions between the USA and Iran resumed, oil has gone up, prices at gas stations have not moved”, the expert pointed out.
According to him, if the trend in futures goes up in a few days, the price of gas stations will also increase.
„The refinery's production meets 100% of the needs for A95 automotive gasoline and diesel. Aviation fuel too, although production is currently somewhat limited. LPG and LPG - about 30%. Everything else, such as LPG, is imported, we are a large importer. In terms of mass fuels, the refinery not only satisfies consumption, but also has huge exports”, Delchev said.
Regarding the contract with “Botaş”, he commented that a basic legal rule is that when old contracts are reviewed, they cannot be reviewed from today's perspective. “This one was concluded at the beginning of 2023 and what happened then on the gas markets is very different from what is happening now. The assessment of this contract is not unambiguous. The fact that this annex with “Botaş” has now been signed is good news, but from then on, how much this corridor will be used for delivery through the Turkish terminals and network, and how much the Greek possibilities will be used, depends on what kind of gas is agreed upon and at what price, which is currently quite unclear. It's a question of commercial terms where it is more profitable to import from," Delchev commented.
According to him, we are now in an advantageous position to pay only for what we transport, not for empty capacity. "In my opinion, the agreement is good," he was categorical.