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Oil market in Serbia and Montenegro
General Manager General Manager NISNIS -- Petroleum Petroleum IIndustry of Serbiandustry of Serbia
Dimitri VuVukkccevicc
1010th th -- 1111th th April,April, 20032003Hotel EmonaEmona, , PortorožPortorož
WPC -The Slovenian National CommitteeWorkshop in Portorož
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Objective 1
Integration of the national market with
the EU market
– harmonization of laws and
regulations with the EU legislation
– modernization of petroleum
processing to meet EU standards
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The BalkansThe BalkansEuropean CrossroadsEuropean Crossroads
l Pan-European Corridor 10• Roads E-70, E-75• Railway routes
l Pan-European Corridor 7• Danube river
Objective imposed by geographic position
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National integration
One country – three crude oil and oil product markets
• Serbia• Kosovo (under UN protectorate)• Montenegro
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Montenegro Market
1. Out of 87 petrol stations in Montenegro 37, or 42%, belong to Hellenic-petroleum (Jugopetrol Kotor)
2. Oil product sales in Montenegro amount to 331,881 t
3. Liberalized oil product import
4. Oil products prices adjusted every 14 days
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Serbian Market
• Only NIS integrates within itself all respective aspects
of the petroleum industry
• Other market participants engage solely in oil product
marketing and dispose only of petrol station outlets,
with the exception of Beopetrol that also has storage
facilitiese
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Serbian Market, wholesale and retail
In the overall oil product sales in
Serbia of 3,118,251 t/y
NIS share is 78 %, or 2,428,382 t/y
In the overall motor fuel sales
(gasoline and diesel) of 1,796,639 t/y
NIS share is 1,482,356 t ili 82.5%
OtherNIS
NISOther
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Serbian Market - retail
In the overall motor fuel sales at the
pump stations NIS share is 53% or 948,146 t
Out of 1236 petrol stations in Serbia NIS
owns 522, or 42%
NISOther
NISOther
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Serbian Market II
• Oil product prices are determined by the Government
• Current regulations allow only for crude oil import, while
oil product import requires special permit
• Development of the overall oil market in Serbia is largely
dependant upon development of NIS-Petroleum Industry of
Serbia
• Therefore ...
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NIS – Company profile & investment opportunities
E&P
Processing
Gas Trade & Distribution
Retail & Marketing
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NIS in 2002
• Sales - $$ 33 blnbln• Natural gas -2 2 blnbln mm33
• Crude Oil - 3.5 3.5 mlnmln tt
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Organisational Chart
•NIS-Naftagas Novi Sad
Exploration and Productionof Oil and Gas
•NIS-Gas Novi Sad
•NIS-Energogas Beograd
Trade and Distribution of Natural Gas
•NIS-Jugopetrol Beograd
•NIS-Naftagas promet Novi Sad
Retail & Marketing•NIS-Oil Refinery Pancevo•NIS-Oil Refinery Novi Sad•NIS-Lube Refinery Belgrade
•NIS-Lube Refinery Kruševac
Processing
•NIS-Inžinjering Novi Sad
Engineering
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Exploration and Production
l NIS crude oil production meets 23% of the Serbian marketneeds (813,000 / 3,476,000 t)
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•Equipment for oil and gasexploration and production
IInvestment nvestment -- USDUSD 4242 mlnmln
RevitalisationMajor Major OilOil ProjectsProjects
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Exploration and production of oil and gas abroad
•• Plan: CPlan: Concessiononcessions fors fornew sites abroadnew sites abroad
•• Goal: Additional oil Goal: Additional oil production of production of 2 million tons2 million tons per yearper year
Major Major OilOil ProjectsProjects
Investment Investment –– USD 10USD 1000--200 200 mlnmln
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Processing
l Crude oil refineries capacity is 6.5 mln tons annually
l Lube refineries capacity is 200,000 tons of finished products annually
l The output exceeds local demand
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CONSULTANTS
®Shell Global Solutions
Hollden Consultants R I C O B G
Major Major RafineryRafinery ProjectsProjects
§ABB Lumus§JGC
§AMEC
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Modernisation and integration of oil refineries
Refinery Integration Plan Refinery Integration Plan
•• OOil il RRefinefineerriesies of of PancevoPancevo && Novi SadNovi Sad
Major Major RafineryRafinery ProjectsProjects
GoalsGoals by 2007by 2007--20082008
•• European Standard 2005+European Standard 2005+
•• Major regional supplierMajor regional supplier
Total Total InvestmentInvestment .......................................... USD 3USD 30000 mlnmln
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Product Pipeline Pancevo – Novi Sad
•• Connecting two refineriesConnecting two refineries-- 90 km length / 10 90 km length / 10 ″″
diameter product pipeline,diameter product pipeline,alongalong with the supporting with the supporting facilities and installationsfacilities and installations
Major Major RafineryRafinery ProjectsProjects
Investment Investment –– USD 18 USD 18 mlnmln
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Product Pipeline Pancevo - Niš
•• Length 250 kmLength 250 km
•• NiNišš –– regional hubregional hub
Major Major RafineryRafinery ProjectsProjects
Investment Investment –– USD 80 USD 80 mlnmln
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Transport and Distribution of Natural Gas
l Capacities are over 6 billion m³ of gas annually
l Natural gas is supplied to app.1000 industrial consumers, and150,000 households
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Underground Gas Storage
•• Continuous and even gas Continuous and even gas
supplysupply
•• Several locations/optionsSeveral locations/options
•• Capacity 500Capacity 500--880000 milmil mm33
Major Gas ProjectsMajor Gas Projects
Investment Investment –– USD 40USD 40--220 220 mlnmln
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Demand To be stored
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Expanding Gas Transmission Network
•• Plan Plan –– expand gas expand gas distribution network in distribution network in SerbiaSerbia
•• Goal Goal -- another 400another 400,,000 000 consumers by 2010 !consumers by 2010 !
Major Gas ProjectsMajor Gas Projects
InvestmeInvestmennt t USD USD 140140--280280 mlnmln
Beograd
Novi Sad
Niš
§Horgoš
Loznica
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Revitalisation of existing gas pipeline system
•• Reconstruction of Reconstruction of damaged and dilapidated damaged and dilapidated partsparts
•• Modernization of Modernization of measuring & control measuring & control facilitiesfacilities
Major Gas ProjectsMajor Gas Projects
InvestmeInvestmennt t -- USD 30 mlnUSD 30 mln
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Expansion of main and municipalgas pipeline system
•• Vojvodina & Western SerbiaVojvodina & Western Serbia
InvestmentInvestment -- USD 114 USD 114 mlnmln
•• Projects for some towns in Projects for some towns in Serbia are readySerbia are ready
Investment Investment -- USD USD 130130 mlnmln
Major Gas ProjectsMajor Gas Projects
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Retail & Marketing
l 2002 oil product sales - 2.3 mln t
l Number of petrol stations:522 public1600 internal (companies)
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Reconstruction of petrol stations
•• EU standards and EU standards and requirementsrequirements
•• Business Business automation automation
DistributionDistribution ProjectsProjects
Investment Investment –– USD 54 USD 54 mlnmln
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New petrol stations
Along the transit roads
DistributionDistribution ProjectsProjects
Investment Investment –– USD 70 USD 70 mlnmln
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Reconstruction of tank farms
• Crude oil and oil product tank farms
• Novi Sad, Sombor, Smederevo, Prahovo, Niš, Bor, Požega
DistributionDistribution ProjectsProjects
Investment Investment –– USD 73 USD 73 mlnmln
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Retail Projects ˜ USD 195 mln 28 mln
Rafinery Projects ˜ USD 385 mln 64 mln
E&P Projects ˜ USD 140 mln 48 mln
Gas Projects ˜ USD 775 mln 39 mln
Total IInvestmentnvestmentby 2007. 2003.
Total Total Investment Investment -- ˜ USDUSD 1.5 1.5 blnbln 179 179 mlnmln
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