NIS owed EUR 320mn
NIS Managing Director Kirill Kravchenko says that the Serbian Oil Industry is currently owed about EUR 320mn.
Friday, 03.07.2009.
15:29
NIS Managing Director Kirill Kravchenko says that the Serbian Oil Industry is currently owed about EUR 320mn. He explained that the company’s receivables had fallen to about EUR 10.6mn, adding that he expected existing receivables to be settled in August. NIS owed EUR 320mn Kravchenko said that Serbian public companies owed NIS about EUR 212mn currently. Even though NIS originally asked the Serbian government to increase the price of refined gas, the latest proposal of NIS’s Russian owners is to change the supply formula. Kravchenko said that prices would be exclusively market-based, as they would be formed on the basis of crude oil and production prices in the region, which had not been the case up to now. The NIS boss, however, did not want to say how much that price increase could be, because he said that negotiations with the Serbian government were ongoing. “Since the negotiations are currently under way, I am not ready to say what this could lead to. Drastic changes are unlikely. In any case, our goal is to define a new market orientation and if there is potential for change in terms of an increase, even if it is minimal, it should be exploited,“ he said.
NIS owed EUR 320mn
Kravchenko said that Serbian public companies owed NIS about EUR 212mn currently.Even though NIS originally asked the Serbian government to increase the price of refined gas, the latest proposal of NIS’s Russian owners is to change the supply formula.
Kravchenko said that prices would be exclusively market-based, as they would be formed on the basis of crude oil and production prices in the region, which had not been the case up to now.
The NIS boss, however, did not want to say how much that price increase could be, because he said that negotiations with the Serbian government were ongoing.
“Since the negotiations are currently under way, I am not ready to say what this could lead to. Drastic changes are unlikely. In any case, our goal is to define a new market orientation and if there is potential for change in terms of an increase, even if it is minimal, it should be exploited,“ he said.
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