Could you give a brief historical outline of Jugopetrol Kotor for the readers of Forbes Global?
First of all, I would like to thank you for your time and for this interview. Jugopetrol is a national company involved in selling oil and oil derivatives. It exists since 1947, which means that next year it will celebrate its 55th anniversary. With the development of the economy in Montenegro, Jugopetrol, as an important infrastructure, also developed. It is known that the last century was marked by oil. Therefore, Jugopetrol had active development due to the fact that it was an oil company. Today it has no competition in Montenegro, which does not mean that it has a monopoly because of two reasons: 1) Jugopetrol does not establish the price of oil, that is done by the Government and 2) this is the activity which could be done by anybody who has the money. The most important capacities of Jugopetrol are its oil installations of which there are three each with a capacity of 120 000 m3. That is enough for the needs of the Montenegrin market, because it absorbs around 400 000 tons of all
