Japan and Romania to...

Japan and Romania are planning to jointly invest significant sums, potentially "trillions of...

Romania: Romgaz plans acquisition...

Romania’s state-owned natural gas producer and supplier, Romgaz, is considering the acquisition of...

Romania: Monsson Group proposes...

A subsidiary of Monsson Group has submitted a proposal for a major battery...

Romania aims to revitalize...

After a decade of slow growth, Romania is now set to significantly boost...
Supported byClarion Energy banner
HomeUncategorized3rd Oil Forum...

3rd Oil Forum opens in Belgrade

 

Serbia and SE Europe need investments in the oil and gas industries, and new commercial oil deposits to reduce their dependence on imports, Petar Škundric says.

Škundric, now serving as prime minister’s energy adviser, and previously as energy minister in the Cvetkovic cabinet, made the statement in Belgrade on Thursday during the opening address at the start of the 3rd Oil Forum of the Energy Community.

Energy Community Secretariat Director Slavtcho Neykov attended the ceremony.

Investments need to be directed into infrastructure, underground storage facilities for natural gas and oil shales exploitation, which can yield both oil and natural gas, Škundric remarked. However, he also noted Serbia had already made significant progress in some important projects regarding energy, and mentioned the Banatski Dvor gas storage facility, South Stream pipeline and the modernization of the Pancevo refinery.

“All of this helps raise Serbia’s energy independence significantly,” Škundric stated, adding that a new law on commodity reserves would be passed soon, defining the required reserve of oil.

Serbia has adopted a new law on energy, which will help bring its energy industry closer to the rules governing that sector in the EU. The government also liberalized the market for oil products earlier this year, he added.

Serbia opened its market to private capital, including oil companies, more than 20 years ago, he said.

The transformation of the EU economy into one with a low emission of greenhouse gases, reaching the level of 85 to 90 percent by 2050, will pose new challenges for the oil industry, which will affect Southeastern Europe as well, Škundric pointed out.

The forum will focus on the oil market, exploitation, production and processing, energy safety and the region’s supply of oil and other fossil fuels. It is organized by the Energy Community and Serbian Ministry of Infrastructure and Energy.

 

 

Supported byOwner's Engineer banner

Recent News

Supported byspot_img
Supported byspot_img

Latest News

Supported byspot_img
Supported bySEE Energy News

Related News

FBiH: Net electricity production reached 473 GWh in June

Net electricity generation in the Federation of BiH fell to 473 GWh in June 2024 from 582 GWh in the same month last year, according to the data published by the statistical office. In the same period, electricity imports increased to 126 GWh...

Croatia: JANAF buys 5.2 MW solar park

Croatian oil pipeline operator JANAF has indirectly acquired the Bulinac solar photovoltaic power plant with an installed capacity of 5.18 MW as part of its diversification strategy, the company said in a filing to the Zagreb stock exchange.The acquisition of this...

Serbia: Banatski Dvor gas storage expansion to begin in October

Serbia will start works to expand the Banatski Dvor natural gas storage facility in October, according to Dusan Bajatovic, head of natural gas importer and distributor Srbijagas.The expansion works are expected to be completed in 18 months, Bajatovic said in...
Supported bySEE Mining News
error: Content is protected !!