economy
March 29, 2026
Vučić: Refinery to increase processing, goal is enough fuel for all pumps
BELGRADE – Serbian President Aleksandar Vučić stated that he expects negotiations between MOL and Gazprom Neft regarding the takeover of Russian ownership in NIS to be concluded by May 22, emphasizing that the stability of fuel supply is currently the state's key priority.
TL;DR
- Negotiations for the takeover of Russian ownership in NIS are expected to conclude by May 22.
- Serbia's key priority is ensuring stable fuel supply.
- The Pančevo refinery will increase crude oil processing, focusing on diesel production.
- Strategic fuel reserves will be replenished and made available to oil companies.
- The government aims to prevent fuel price increases, with a final decision expected in two days.
- Serbia is experiencing financial losses due to global market disruptions and rising oil prices.
- Despite losses, Serbia maintains stable public finances, low public debt, and significant foreign exchange reserves.
- The government will ensure that price increases do not affect the cost of basic foodstuffs.
- Serbia has among the lowest natural gas and electricity prices in Europe.
- Average salaries in Serbia are expected to continue growing throughout the year.