Privatisation Strategy for Serbian Oil Company Accepted

6. Juli 2006, 00:00

The Serbian government s working group that controls the performance of the privatisation advisor of the Serbian...

The Serbian governments working group that controls the performance of the privatisation advisor of the Serbian Oil and Gas Company (NIS), Merrill Lynch-Raiffeisen Investment, accepted on Wednesday the final report on the privatisation strategy for NIS.

According to the Beta news agency, the report will be forwarded to the Serbian government for discussion and adoption, after which the first privatisation phase of NIS will finish.

“The goal of the Serbian government is to create a competitive and profitable national oil company, able to force itself in the liberalised regional and European market, as well as to further liberalise the domestic market of oil derivatives,” the Serbian Ministry of Energy and Mining outlined in a press release.

In this way, the government will create a far greater possibility for the appearance of strategic investors who are expected to start the process of modernisation in NIS, set new development methods, introduce new technologies and apply the strictest environment protection standards, the Ministry stated.

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