Serbia's Energy Minister: Crude Oil Hits Record High at $133 a Barrel
Serbia's mining and energy minister Dubravka Djedovic Handanovic has stated that crude oil is currently priced at $133 a barrel, citing it as a record level going back several years. However, this figure does not match morning market reports from the same day, which put the price of Brent crude at around $108 per barrel.
The minister attributed the high prices to issues on the geopolitical stage, specifically problems with refineries in Russia and infrastructure issues in the Middle East and Persian Gulf. This has led to diesel quotations exceeding $1,500 per ton for the first time, reaching $1,550 per ton, according to Djedovic Handanovic.
Gas reserves are currently at an extremely high level, standing at 692 million cubic meters, with part of it held in the Banatski Dvor storage facility and part in Hungary. The minister also mentioned that there have been no restrictions in fuel or electricity supply so far, unlike in some neighboring countries.
The Petroleum Industry of Serbia (NIS) is currently operating under an operating license from the US Office of Foreign Assets Control (OFAC), valid until September 30, 2026. The minister did not say what happens once this deadline passes, but stated that preparations for the heating season are underway.
The low water level on the Danube has slowed down the delivery of coal from Constanta by barge, with part of it now arriving by rail and truck to the Nikola Tesla power plant. The minister expects the water level to rise during October, when barges should be able to transport the remaining quantities more quickly.