IN SHORT BUSINESS

Oil reserves commitments to be met

SLOVAKIA is prepared to meet the requirements regarding the EU's obligatory oil reserves but in order to fulfil the plan, the state will have to release more funds, said the head of the state reserves authority SŠHR, Ján Tušim.

According to Tušim, more oil and oil products must be purchased than had been planned, as their daily use has been rising, the state run TASR news agency reported.

Currently, Slovakia stores a 47-day supply of oil reserves, as calculated based on the average use of the commodity.

By the end of the year Slovakia must increase the reserves to a 55-day supply, and by 2008 the country is obliged to have 90-day reserves.

According to Tušim, the SŠHR also plans to build additional storage units, though some of Slovakia's oil reserves could be stored abroad.

Get daily Slovak news directly to your inbox

Top stories

Car industry needs to jump on the latest trends

Economy minister promises extensive support for hydrogen technologies in Slovakia.

The Hydrogen Technology Research Centre (CVVT) is to be launched at the end of 2020 or beginning of 2021 in Košice to do R&D in this field.

Want to publish a book? You can do it yourself

Self-publishing is setting a new trend.

Nikoleta Kováčová has published two cookbooks without the aid of a publishing house.

Hospital manners expose the toxicity of Kollár

Unjustified privileges overshadow some good news of the coalition's work. Halloween testing will not be repeated during advent time.

PM Igor Matovič (l) and Speaker of Parliament Boris Kollár

News digest: Slovakia still dealing with the loss of its talent

Economy minister promises extensive support for hydrogen technologies in Slovakia. Far-right supporters protested in front of PM’s house during the weekend.

The far-right ĽSNS organised a protest in front of PM Igor Matovič's house in Trnava.