Production in "Petrohemija" may be resumed before August

- Pančevo-based "Petrohemija" may resume production in the second half of July or at the beginning of August because the negotiations about supply of raw materials are going in a good direction - people from that company announced yesterday (July 7, 2009).

- We expect that the negotiations with partners will end successfully within the next two weeks and that their result will be long-term contracts on continuous deliveries of raw materials. Negotiations about prices and repogramming of old debts are also in progress - said Saša Pavlov, the Adviser of the Director General.

"Petrohemija" negotiates with "Petroleum Industry of Serbia" (NIS), which should deliver 8,000 tons of raw gasoline per month, and "Lukoil", which should deliver 25,000 tons.

Pavlov added that the negotiations with Romanian "Rompetrol" would commence the next day, and that they would be followed by the talks with the national oil company from Azerbaijan.

"Petrohemija" discontinued work on June 24th since the debt of 210m EUR made it impossible for the company to procure raw materials.

The plan is that this break lasts for one month, and that the negotiations with petroleum companies from Serbia and the region about delivery of raw materials be finished in the meantime.