LEFKARITIS - THERE IS NO QUESTION OF FUEL SUFFICIENCY IN CYPRUS - Filenews 2/3
There is no concern about fuel sufficiency in Cyprus, as oil companies have the possibility to proceed with alternative supply purchases, if necessary, Dinos Lefkaritis, Executive CEO of Petrolina, told KYPE.
As he mentioned, the existing fuel reserves are sufficient for about 15 days, a level that is considered satisfactory for Cypriot data, given that the receipts are usually made on a weekly basis. "We are covered, we do not have a specific problem," he noted.
Mr. Lefkaritis stated that until Sunday night, loadings were carried out by Israel, adding that the situation is being assessed on a daily basis. As he said, there may be changes in supply, depending on the decisions of the refinery in Haifa, but there is no question of a supply interruption.
At the same time, he underlined that there are alternative supply options, both through traders and from markets such as Greece, Malta and Italy, which enhances the country's security of supply.
«There is no concern about running out of fuel," he reiterated, pointing out that the available stock can meet the needs of the market for up to two weeks.
In terms of prices, the head of Petrolina noted that the petroleum products market is characterized by high volatility. As he said, "no one can predict" with certainty the course of prices, which may move either up or down, depending on international developments.
