Financial Analysis of the Oil Sector in North Macedonia – The Case of Makpetrol AD Skopje

The volatility of world stock markets, especially the price of oil and oil derivatives, requires permanent creation of financial pol- icies and financial construction of oil companies in order to maintain financial stability, precisely because oil companies are one of the key elements for maintaining a stable economy in a country. In North Mac- edonia, as a small and import-dependent economy, the primacy in the oil industry is held by Makpetrol AD Skopje, which is a highly ranked company with a high level of financial stability and financial indica- tors that in certain time periods exceed the industry average. The purpose of the research is to analyze trends in sales revenue and operating profit before and during the global increase in oil prices and to analyze the company’s key financial indicators. According to the research results, Makpetrol AD Skopje has a relatively stable financial situation with a relatively high level of liquidity and solvency, and relatively good indicators of return on funds and return on capital.