Serbia liberalizes oil imports

Starting Wednesday, Serbia has canceled a limit on import and processing of crude oil. The government has introduced a new decree on the conditions and manner of import and processing of crude oil and oil derivatives. Serbia liberalizes oil imports Private companies in Serbia will no longer be obligated to import at least 30,000 tons of crude, but only as much as they need. However, they are still advised to remain "mindful of the country's energy balance." According to the latest decree, private companies registered to import and distribute oil and its products will still have to process it in the Oil Industry of Serbia, NIS, refineries, the Ministry of Energy and Services said. The new regulation has been harmonized with the Central European Free Trade Agreement (CEFTA) provisions and those of the World Trade Organization (WTO) and the European Union. The ministry also stressed that by lifting a ban on qualitative limitation of imports, one of the preconditions for international integrations has been met. NIS representatives, meantime, say that the implementation of this decree "will not cause any disruption in the oil and oil derivatives supply to the market," as well as that it "only amounts to an administrative change, while existing limitation will certainly still be respected, since it is not profitable to process lesser amounts of oil, due to various losses thus incurred."

Serbia liberalizes oil imports

Private companies in Serbia will no longer be obligated to import at least 30,000 tons of crude, but only as much as they need. However, they are still advised to remain "mindful of the country's energy balance."

According to the latest decree, private companies registered to import and distribute oil and its products will still have to process it in the Oil Industry of Serbia, NIS, refineries, the Ministry of Energy and Services said.

The new regulation has been harmonized with the Central European Free Trade Agreement (CEFTA) provisions and those of the World Trade Organization (WTO) and the European Union.

The ministry also stressed that by lifting a ban on qualitative limitation of imports, one of the preconditions for international integrations has been met.

NIS representatives, meantime, say that the implementation of this decree "will not cause any disruption in the oil and oil derivatives supply to the market," as well as that it "only amounts to an administrative change, while existing limitation will certainly still be respected, since it is not profitable to process lesser amounts of oil, due to various losses thus incurred."