Serbia's Energy Minister opens Fourth Oil Forum of SEE Energy Community

Serbia's Minister of Energy, Development and Environmental Protection Zorana Mihajlovic opened the Fourth Oil Forum of the Energy Community of South East Europe (SEE).Mihajlovic said on the occasion that Serbia, as a member of the Energy Community of South East Europe, adopted...

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Serbia's Energy Minister opens Fourth Oil Forum of SEE Energy Community



Balkans.com Business News Correspondent - 22.11.2012

Serbia's Minister of Energy, Development and Environmental Protection Zorana Mihajlovic opened the Fourth Oil Forum of the Energy Community of South East Europe (SEE).
Mihajlovic said on the occasion that Serbia, as a member of the Energy Community of South East Europe, adopted a month and a half ago the Directive 2009/119 of the European Commission (EC) on strategic oil reserves, as the objective is to possess a strategic oil reserve for 90 days. She said that Serbia needs to fully implement this directive by 2023. We will start with legislative changes, bylaws, preparation of the necessary storage facilities for oil and petroleum products, the Minister said and added that the public enterprise Transnafta will take care of this. Mihajlovic underlined that the new Law on commodity reserves is in the final stages of preparation, which include a section relating to the strategic oil reserve, and added that Serbia still has a certain amount of reserves of oil products in the commodity reserves, but not in the amount it would have with the implementation of the European Commission’s directive.
Source: Serbian Government


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