Serbia: “Lukoil” announced new investments in Serbia

Published on 4. November 2013., News Serbia Energy

The oil company “Lukoil” has invested about 250 MEUR for 10 years of doing business in Serbia, and for a year or two it could significantly increase investments in Serbia, said the company’s vice president Vadim Vorebljov.

– Investment of “Lukoil” in Serbia currently remains at the current level, but in the short run for a year or two, we have to bring concrete solutions. If we make decisions to expand investments in the Serbian market, it will mean a significantly higher amount of investments – said Vorebljov.

He said that existing share which is on Serbian oil market currently fits for that company, and that they “feel good in Serbia.”

Speaking about the recent speculations in the Serbian public that “Lukoil” did not meet investment commitments in the privatization of “Beopetrol” Vorebljov said that Lukoil is completely fulfilled all the requirements of the privatization contract.

– We claim with absolute certainty that “Lukoil” fulfilled all the requirements for privatization contract, in accordance with the legislation of Serbia, as it was required at that time – he added.

He pointed out that remarks released by the Council for Combating  Corruption on the privatization of “Beopetrol” are not directed to the company “Lukoil” but to the Privatization Agency of the Republic of Serbia.

Source; Serbia Energy