Makpetrol

What Makpetrol does

Makpetrol AD is a publicly traded North Macedonian integrated petroleum and energy company, founded in 1947 and headquartered in Skopje, operating as the dominant fuel retailer in its home market. Its core offering is the ULTRA family of additive-formulated fuels — ULTRA 95+, ULTRA 100 Race Pro, ULTRA Diesel Green Power, ULTRA Diesel Bio Power, and ULTRA LPG Plus — distributed through a nationwide gas station network that also features Shop&Drive convenience stores. Beyond retail, the company runs a 20,000-ton-per-year biodiesel factory producing MKS EN 14214-certified B100 from rapeseed oil, an LPG distribution network of 77 stations (cylinders 2–35 kg), four CNG stations (including capacity for up to 100 buses of JSP Skopje), five EV charging locations via a partnership with EVN Macedonia, aviation fuel installations at Skopje and Ohrid airports, an ISO 9001:2000-certified freight forwarding business, and an MKS EN ISO/IEC 17025-accredited laboratory.

The company serves a diversified customer base spanning individual consumers, B2B fleet operators (more than 50,000 VERNA Business card users with vehicle-specific consumption tracking and VAT deduction), industrial LPG and fuel-oil wholesale accounts, agricultural buyers of B100 biodiesel, public transport operators, and aviation customers. Adjacent retail lines include LUBEX oils, AdBlue, antifreeze, Goodyear and Debica tires, Verna+ Prepaid cards, and VERNA loyalty products, supported by a mobile app and a warehouse network covering twelve-plus Macedonian cities plus a 65,000 m2 Lisiche customs warehouse.

Revenue is generated through per-liter retail fuel margin on consumer transactions, subscription-like fleet card programs (VERNA Business), wholesale LPG and fuel-oil contracts, biodiesel and by-product sales (wood pellets, glycerol), aviation fuel supply, and fee-based freight forwarding. The asset base includes regulated positions: Makpetrol was the first private investor in North Macedonia's natural gas pipeline infrastructure (800M m3/year), and its Bulgarian subsidiary Petrolmak S.A. secured a ten-year natural gas trading license in 2026, signaling the company's first regulated international footprint.

Name

Makpetrol

Legal name

Makpetrol AD

Website

https://makpetrol.com.mk

Company type

Public

Founded year

1947

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Makpetrol is a publicly traded North Macedonian petroleum and energy company, founded in 1947 and headquartered in Skopje. It operates the country's dominant integrated fuel retail network alongside biodiesel production, LPG and CNG distribution, aviation fuel supply, and freight forwarding, serving consumers, fleets, industry, and public transport.

Ownership category

akta.pro rank

Product category

Fuel Retail and Petroleum Distribution

NAICS

Gasoline Stations (4571), Fuel Dealers (457210), Petroleum Bulk Stations and Terminals (424710), Petroleum Lubricating Oil and Grease Manufacturing (324191)

SIC

Wholesale-Petroleum Bulk Stations & Terminals (5171), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172)

akta.pro primary industry

Retail Service Station Operations (Company-Owned & Dealer-Operated) (EUALAIAA)

akta.pro secondary industries

Alternative Transportation Fuels Retail (EV Charging, Hydrogen, CNG/LNG, Biofuels Blends) (EUALAIAI), Branded Fuels Wholesaling & Jobber Distribution (EUALAIAB), Biofuel Distribution & Fuel Marketing (Wholesale/Retail) (EUAAAHAI), Fuel Pricing, Loyalty & Payments Platforms (POS, Mobile Pay, Fleet Cards, Loyalty Programs) (EUALAIAK), Non-Fuel Retail & Ancillary Forecourt Services (Car Wash, Auto Care, ATM/Lottery, Parcel Lockers) (EUALAIAJ), Lubricants, Fluids & Chemical Products Distribution (Oils, Coolants, AdBlue/DEF, Cleaners) (TLAKAOAL)

Keywords

• Retail fuel distribution
• Petroleum products
• Automotive lubricants
• LPG supply
• Biodiesel production

Headquarters

HQ city

Skopje

Offices14 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Retail Fuel Sales: Sale of petroleum fuels (gasoline, diesel, LPG, CNG) through company-owned gas station network to individual consumers and business fleets. Revenue generated from per-liter fuel sales at retail prices.
2. VERNA Loyalty Card Program: Loyalty program generating revenue through customer retention and increased purchase frequency. Includes VERNA Loyalty (points-based), VERNA Business (fleet payment cards), and VERNA+ Prepaid cards.
3. Industrial LPG Supply: Wholesale supply of propane-butane gas in cylinders (2, 3, 5, 10, 35 kg) and bulk to industrial facilities.
4. Freight Forwarding Services: Logistics and customs services including transport (truck, rail, ship, air), customs procedures, and storage at Lisiche warehouse (65,000 m2).
5. Glycerol Sales: Sale of glycerol as energy source for thermal energy production in industrial plants, and as raw material for methanol, hydrogen, antifreeze production.
6. Natural Gas Supply: Supply of compressed natural gas (methane) for commercial vehicles and buses through owned CNG filling stations.
7. Electric Vehicle Charging: EV charging services at select gas stations in partnership with EVN Macedonia.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Makpetrol is a vertically integrated petroleum and energy retailer that produces, imports, and distributes ULTRA branded motor fuels (gasoline, diesel, LPG, CNG) and automotive products (LUBEX lubricants, AdBlue, antifreeze, tires) through a nationwide network of company-owned gas stations in North Macedonia. Beyond retail fuel, it operates a 20,000 tons/year biodiesel plant, industrial and household LPG supply, natural gas distribution, aviation fuel supply at airports, EV charging, freight forwarding with customs services, and an accredited petroleum testing laboratory, supported by the Verna loyalty and fleet-card program.

Product overview

Makpetrol is a diversified energy and petroleum company operating as a single integrated business with multiple product lines. The core offerings include ULTRA family fuels (ULTRA 95+ Economy, ULTRA 100 Race Pro, ULTRA Diesel Green Power, ULTRA Diesel Bio Power, ULTRA LPG Plus, and Methane/CNG) sold through a network of gas stations. The product portfolio extends to automotive products including LUBEX motor oils and lubricants, AdBlue, antifreeze, windshield cleaners, tires (Goodyear and Debica), and demineralized water. Commercial services encompass Verna loyalty and payment programs (Verna Loyalty, Verna Business, Verna+ Prepaid), electric vehicle charging infrastructure, freight forwarding and logistics, laboratory testing services, fiscal printers, and alternative energy products (biodiesel, natural gas, LPG, glycerol, pellets). The company also supplies aviation fuels (JET A-1 and AVGAS) at airports and heating solutions for households. All offerings are distributed through Makpetrol's retail gas station network, Shop&Drive markets, and business channels.

Differentiator

Problem solved

Functional benefit

Brands

• ULTRA: Premium fuel product line featuring ULTRA 95+, ULTRA 100 Race Pro, ULTRA Diesel Green Power, ULTRA Diesel Bio Power, and ULTRA LPG Plus
• Verna
• Verna GO
• Lubex
• Shop&Drive
• Verna Business

Products and services

• ULTRA 95+ Economy gasoline High-quality engine gasoline with proprietary Dual Action Technology additive package, designed for reduced fuel consumption while maintaining engine performance, sold at Makpetrol gas stations across North Macedonia at 84.50 MKD/liter.
• ULTRA 100 Race Pro gasoline High-octane 100 RON petrol with proprietary additives, developed for cars and motorcycles with high-performance engines and modern propulsion technologies, priced at 86.50 MKD/liter.
• ULTRA Diesel Green Power High-quality crystal-clear diesel with Dual Action Technology additive package meeting complex requirements of modern diesel vehicles, sold at 92.50 MKD/liter (3 MKD below regulatory price).
• ULTRA Diesel Bio Power Diesel fuel containing 6% biodiesel produced from high-quality vegetable oil blended with 94% ULTRA Diesel Power fuel, marketed for reduced harmful emissions, priced at 47.00 MKD/liter.
• ULTRA LPG Plus Auto LPG fuel (propane-butane mix) with Dual Action Technology providing increased octane number and adjusted vapor pressure for preserved vehicle performance, priced at 75.50 MKD/liter.
• Methane (CNG) Compressed natural gas alternative fuel for gasoline and diesel engines in passenger and freight vehicles, sold at 79.50 MKD/liter equivalent through 4 owned CNG filling stations (with expansion planned).
• LUBEX motor oils and lubricants Complete range of LUBEX synthetic, semi-synthetic and mineral motor oils (e.g. SuperSyn SAE 5W40, Unic Plus SAE 10W40) plus gear oils, brake fluids, hydraulic oils and lubricating greases for complete engine lubrication and protection, sold through Makpetrol stations.
• AdBlue ISO 22241-1:2006-compliant liquid from VDA-certified European manufacturers used in Selective Catalytic Reduction systems to convert diesel exhaust gases into harmless nitrogen and water, sold at Makpetrol gas stations for heavy-duty diesel vehicles.
• Antifreeze and Crystal Car windshield cleaners Engine coolant liquids (Antifreeze 100, Antifreeze 40, Antifreeze 100 Organic) meeting BS 6580 standard with corrosion-protection additives, plus summer and winter windshield cleaning liquids for vehicle visibility and frost protection, sold at Makpetrol stations.
• Goodyear and Debica tires Tires for passenger cars, vans and trucks offering a wide range of products tailored to vehicle brand, driving style, and budget, sold at Makpetrol stations.
• Verna+ Prepaid cards Cash payment cards available in denominations of 500, 2000, 5000, 10000, and 50000 MKD for purchasing fuel and goods at all Makpetrol gas stations, with a 200 MKD reissuance fee for lost cards.
• Verna Loyalty program Customer loyalty program where consumers collect points for each liter of fuel refilled and additional products purchased at Makpetrol stations, redeemable for rewards.
• Verna Business cards Business payment cards for fleet management enabling non-cash payment, vehicle-specific consumption tracking, driver identification and authorization, and VAT deduction capabilities, used by more than 50,000 business fleet operators.
• Electric vehicle charging Electric vehicle charging stations supporting CCS, CHAdeMO, and Type 2 connectors installed at selected Makpetrol gas stations in partnership with EVN Macedonia.
• Freight forwarding services ISO 9001:2000-certified complete freight forwarding including truck, rail, ship and air transport, logistics packages, goods insurance, customs services at Skopje and Bogorodica (Gevgelija) border crossing, and storage at the 65,000 m2 Lisiche warehouse.
• Biodiesel B100 Pure biodiesel fuel (B100) produced via transesterification of rapeseed oil at Makpetrol's biodiesel factory, meeting European standard MKS EN 14214, with 20,000 tons/year production capacity, mixable with fossil diesel per MKS EN 590.
• Laboratory testing services Independent accredited laboratory testing petroleum derivatives, biodiesel, JET-A1, aviation gasoline, fuel oil, EL, oils, LPG and antifreeze per MKS EN ISO/IEC 17025 standard, accredited by UKTS in 2005 and IARM in 2006.
• Natural gas (CNG/LNG supply) Strategic natural gas energy supply with competitive delivery conditions, including compressed natural gas stations for commercial vehicles and buses such as the JSP Skopje station that can fill 100 buses in 7-8 hours.
• Household LPG cylinders LPG (propane-butane mix) in cylinders of 2, 3, 5, 10 and 35 kg for household cooking, heating and portable energy needs, distributed at 77 Makpetrol gas stations across North Macedonia.
• LPG for business Wholesale LPG supply in cylinders of 2, 3, 5, 10, and 35 kg and bulk delivery to industrial facilities from the Miladinovci warehouse, with modern vehicle fleet enabling regular and fast supply.
• Pellets and EL-1 heating fuel Cost-effective heating solutions including pellets from renewable natural sources and Extra Light EL-1 fuel oil with low sulfur content, sold at 41.495 MKD/liter.
• Glycerol Biodiesel production byproduct sold as energy source for thermal energy production through combustion in industrial plants, and as raw material for methanol, hydrogen, antifreeze and pharmaceutical products.
• Aviation fuels (JET A-1, AVGAS 100 LL) Kerosene (GM-1/JET A-1) and aviation gasoline (AVGAS 100 LL) meeting Def 91-91/5, ASTM D1655-07, and AFQRJOS world standards, supplied at dedicated installations at Skopje and Ohrid airports.
• Demineralized water Demineralized water for car engine cooling systems, windshield washers, battery maintenance, and household use, available in 1, 3, and 5 liter packages.
• VERNA GO mobile application Mobile application for managing Verna loyalty points, finding gas stations, viewing current fuel prices, accessing discounts and promotions, and using a travel planner, available on iOS and Android.

Quantifiable outcome

• Reduced fuel consumption through ULTRA Dual Action Technology
• +3 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Petrolmak S.A.coreStrategic or Co-development Partner · 2 June 2026Makpetrol AD is the main investor in Petrolmak S.A., a Bulgarian entity that successfully obtained a natural gas trading license in Bulgaria from the Bulgarian Energy and Water Regulatory Commission (EWRC) with CMS Sofia providing legal support.
• CMS SofiaminorImplementation/ SI/ Consulting Partner · 2 June 2026CMS Sofia law firm provided regulatory and legal support to Petrolmak S.A. throughout all stages of the natural gas trading licensing process in Bulgaria, including appearances at open hearings and addressing additional requests from the Bulgarian regulator.
• EVN MacedoniacoreTechnology or Integration · 1 August 2025Makpetrol partnered with EVN Macedonia to install electric vehicle chargers at selected gas stations across the country. At locations equipped with electric chargers, drivers can charge their electric vehicles quickly, safely, and conveniently while enjoying Makpetrol's high-quality service.

Scale indicators14 records

Recent moves6 records

Expansion highlights4 records

Regional players

• Rompetrol (KMG International): Romanian/Kazakh-affiliated fuel retailer and refiner operating retail stations, LPG, lubricants and logistics in Romania, Moldova and the Black Sea region; comparable regional competitor to Makpetrol in the SEE fuel-retail and lubricants space.
• Hellenic Petroleum: Greek integrated oil group with retail fuel network (EKO brand), lubricants, LPG/CNG and refining; relevant as a regional fully-integrated petroleum peer with downstream-led revenue mix similar to Makpetrol.
• Lukoil Balkans: Lukoil's Balkan retail and wholesale fuel operations including Bulgaria and Serbia; competes for the same cross-border fuel volumes and downstream customers that frame Makpetrol's domestic and Bulgarian activities.

Broad incumbents

• OMV: Austrian integrated oil and gas major with extensive fuel retail, loyalty programs (OMV Card), LPG, CNG and EV charging across CEE including the Western Balkans; provides a regional benchmark for fuel retail scale, loyalty-platform monetization and alternative-fuel rollout relative to Makpetrol.
• MOL Group: Hungarian integrated oil group with a large CEE fuel retail network, branded fuels, loyalty cards (MOL MOVE), LPG and growing EV charging; comparable as a CEE fuel retailer simultaneously rolling out alternative fuels while monetizing an established fleet-card base.
• Shell: Global integrated oil major with deep CEE fuel-retail presence including branded forecourts, fleet cards, EV charging and convenience; sets the global product/loyalty benchmark against which smaller incumbents like Makpetrol differentiate.
• TotalEnergies: French global integrated energy company with a strong CEE fuel-retail and lubricants footprint, expanding CNG, EV charging and biofuels; relevant incumbent comparable for multi-fuel forecourt strategy, branded lubricants and fleet offers.

Direct peers

• INA (Industrija nafte): Croatian integrated oil company running a national retail network with branded fuels, loyalty program, LPG and biofuels; small-market incumbent with the same combination of regulated prices, alternative fuels and loyalty-based B2B offerings as Makpetrol.
• NIS (Naftna Industrija Srbije): Serbian state-linked integrated oil company with a national gas-station network, own refining, loyalty card program, LPG, CNG and electric mobility initiatives; mirrors Makpetrol's mix of fuel retail, B2B fleet cards, alternative fuels and lubricants in a neighboring Balkan market.
• Petrol d.d. (Slovenia): Slovenian fuel retailer and integrated energy company with national network, own lubricants, LPG, CNG, biofuels and growing EV charging; closely comparable to Makpetrol as a small-country integrated fuel/energy retailer pivoting into renewables and mobility services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/MakpetrolUltra
• YouTubeyoutube.com/c/makpetrolultra
• Facebookfacebook.com/makpetrol.ultra
• LinkedInlinkedin.com/company/makpetrol
• Instagraminstagram.com/makpetrol.ultra

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Makpetrol