Serbia has ten days worth of oil reserves

Serbia currently has ten days worth of oil reserves – says the Serbian Minister of Energy and Mining, Aleksandar Antic, adding that the government has launched a tender for acquisition of more oil and oil derivatives.

“We are talking about tender for acquisitions of diesel worth around 1.3 billion dinars. We are only responsible for filling up public storage facilities, and we are nearly done with that”, Antic explains. He also says that the government’s priority is to build new storage capacities in order for Serbia to have oil reserves by 2023 which is required for the country to open negotiations about the chapter 15 (Energy) in the EU accession talks.

“All in all, our goal is to have 90-days-worth of oil reserves by 2023”, Antic said at a press conference in Belgrade. The Minister went on to say that, in 2017, the government would increase the country’s oil reserves to have enough at least for 15 days which is in accordance with its plans.

Some of the oil reserves are currently stored in the Commodity Reserves Directorate and Transnafta. In regard to building new oil storage facilities, the minister said that the preferred project format would be public-private partnership adding that the government had already received two non-binding proposals.

“We have tools to properly analyze these problems, and I expect that we are going to launch a public call in the near future for companies to submit their bids and proposals. Of course, beforehand, we need to assess how much can we store in the current facilities”, Antic added.

(Blic, 26.03.2017)

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