Line Minister: Supply of Oil, Oil Derivatives Not Endangered   | Beta Briefing

Line Minister: Supply of Oil, Oil Derivatives Not Endangered  

Source: Beta
Archive / News | 06.12.22 | access_time 16:52

Dubravka Djedovic, Belgrade Economic Forum, Belgrade, Dec.6 2022 (BETAPHOTO/MILOS MISKOV)

Serbian Energy Minister Dubravka Djedovic on Dec. 6 said that the supply of oil and oil derivatives to the local market was not endangered nor was operation of the domestic refinery which had been running full-tilt despite launch of EU eight package of restrictive measures against Russia.   

 “Our oil derivative reserves can cover up the need up to three months and we are ready for potential disturbances in the market,” Djedovic said at the Belgrade Economic Forum.

Djedovic also said that the share of Russian oil was dependent on market conditions, noting that last year, around 20 percent of total amount of oil had come from Russia. She noted that the new situation in the oil market would also affect government finances.

Djedovic added that the goal of the Serbian Government and her personal goal was to ensure independence of the country’s energy sector, which, she said, would be best done through diversification of supply sources as the ongoing “energy crisis has denuded the vulnerability of not only Serbia and the region, but also of many developed European countries.”

According to the energy minister, the 2023 budget envisages around EUR4 billion in new investment projects in the energy sector and more than EUR2billion in guarantees for different project financing. 

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