NEW PARTNERS IN OIL BUSINESS

US Comico Overseas to invest in Serbia
Belgrade, June 21 (SerbiaToday) – American Corporation “Comico Overseas” is interested to build up new oil refinery in city of Smederevo, 50 km east of Serbian capital Belgrade, local press reported Sunday quoting Serbian Minister of Mining and Energy.
“Preparations are under way to produce a legal framework for the project. We are considering all the possibilities in accordance with Serbian energy strategy and Serbia-Russia agreement on cooperation in energy (signed 2008)”, said Petar Skundric according to media reports.

Russian oil monopoly “Gazpromnjeft” is majority owner of “Serbian Oil Industry” (NIS). Control package of NIS shares was sold for 400 mil € ($ 560mil).

Skundric said Serbia was interested for reconstruction of NIS, but also in further development of its oil industry. There is a possibility of meeting NIS and American representatives, said Skundric adding he recommended possibly talks should include two companies’ strategic partnership.

Earlier this year, media reported that Mayor of Smederevo has signed a protocol with American counterpart, and “Comico Oil” (daughter-company of Amsterdam based “Comico Overseas” conglomerate) is ready to invest 250 mil € in the project.
New oil refinery in Smederevo will be able to produce on daily basis 4.000t gasoline, diesel and kerosene, and will employ 300-500 workers, according to media.

Some 9 mil € are expected to be invested in Serbian energetic sector till 2015 – 5 mil € in new and 4 mil € in reconstruction of old capacities, both from home and foreign sources, claimed Minister Skundric.
In Smederevo, US Steel Serbia operates since 2004.