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Importing oil to Albania/ What happens if the Suez Canal is blocked?

2026-03-19 07:13:00, Aktualitet CNA

In 2025, around 740,000 tons of oil were imported into Albania, according to data from Customs. Imports have been increasing continuously in recent years in response to increased consumption, as a result of tourism and the high number of vehicles circulating in the country.

But what are the main import channels in Albania for black gold, which is recently becoming a luxury good due to its price increase on the stock exchange due to the conflict in the Middle East, which was also broadcast in the country, with a price that has reached 200 lek per liter, from 175 lek at the end of February.

The path that oil takes to reach Albania is long. The main source of supply for importers in 2025, according to data from Customs, is Saudi Arabia, from where 257 thousand tons of oil were obtained, or 35% of the total. From this country, mainly “Kastrati Energy Trade”, the largest importer of oil in the country, and “Gega Oil”, the second largest, import.

Saudi Arabia is the world's second-largest oil producer, after the United States. It typically produces about 9-11 million barrels per day, according to OPEC, making it one of the most influential players in global oil supply. Importers claim that ships pass through the Suez Canal to reach Albania and a blockage of it would have major consequences, as ships would be forced to turn around, which would add 20 days to the journey, which has additional costs.

Currently, the Suez Canal remains open and operational, but traffic is significantly reduced, as many shipping companies are avoiding the passage due to the danger in the Red Sea and are diverting ships around Africa.

The second country from which oil is imported is India, from which in 2025 16% of the total was imported. Even from India, the main weight is held by the two largest importers, Kastrati and Gega. India, although not among the dominant producers of crude oil, has become one of the world's "refineries". It buys oil from various markets, processes it and returns it to the market as a finished product, often to Europe.

Oil coming from India is part of a long trade circuit, which starts in the East, passes through Asian refineries and then makes its way to the Mediterranean. Even for these flows, the passage through the Suez Canal remains a crucial link. /Monitor