Djedovic Handanovic meets with NIS directors

BELGRADE - Serbian Minister of Mining and Energy Dubravka Djedovic Handanovic met with members of the NIS Board of Directors on Friday to discuss the oil company's business operations, the operations of its refinery and the prices of oil derivatives, and noted that the government had succeeded in keeping fuel prices almost the same to protect consumers from price hikes.

Regular supplies will be maintained, the minister said.

"Today, the price of diesel went up by one dinar and the petrol price did not increase even though quotes remain high and the pressure on the market is enormous. We have succeeded in keeping fuel prices at almost the same level," Djedovic Handanovic said.

"It is important that NIS, which is crucial for supplying our market, continues to operate in a stable manner," an official statement quoted her as saying.

She noted that oil companies had begun drawing diesel from reserves made available by the government to protect small consumers and businesses from hikes of oil derivative prices and shortages.

"NIS is a strategic company for our energy security. Besides its own network of petrol stations - which are also the only petrol stations in many places - it also supplies other oil companies, which is especially important now that imports of derivatives are declining increasingly due to an increase of stock market prices. NIS is producing sufficient quantities and provides regular supplies to other companies as well. In spite of all the challenges NIS has been facing for more than a year, the refinery is operating, crude oil is coming in, and processing and production have been up in March and will continue to grow in April, with 11,000 t (of crude oil) expected to be processed every day. Regular supplies will be maintained," the minister said.

NIS is under US sanctions due to its Russian majority ownership.