Independent monitoring of oil market in Serbia

The National Petroleum Committee of Serbia (NPCS), member of the World Petroleum Council (WPC), adopted on September 7th in Belgrade the guidelines for monitoring the oil derivatives market and hiring independent institutions to monitor the quality of oil derivatives in Serbia.

The plan is that an independent laboratory, which will be hired by NPCS, announces results of the tests of fuel quality in Serbia twice a year, with the aim of ensuring the application of quality standards for oil derivatives.

NPCS has launched an initiative for a semiannual analysis of the oil derivatives market in Serbia with the forecast of oil derivatives consumption for the second half of the year, which will be made available to the public.

- This analysis will represent a good basis for more thorough consideration of the processes affecting the oil derivatives market, it will contribute to the formation of business policy of the members of NPCS, as well as to the identification of application of legal regulations and limitations - NPCS Secretary General Slobodan Sokolovic explained at the second session of the Committee in the Serbian Chamber of Commerce (SCC).

NPCS will take part in the 20th conference of the World Petroleum Council, which will be held in Doha (Qatar) between December 4 and 8, it was decided at the Committee's session.

That event in Doha will gather about 6,000 participants, 30 ministers and around 500 director generals of oil companies.

NPCS will be represented by Director General of the Petroleum Industry of Serbia (NIS) Kirill Kravchenko as the vice president of NPCS.