Serbia To Buy Oil From Tyumen Oil Company

The Oil Industry of Serbia company concluded an agreement on purchasing crude oil in 2002 from the Tyumen oil company (Western Siberia, Russia), Goran Novakovic, energy minister of Serbia, said in Belgrade. According to the agreement, oilmen are obliged to provide deliveries of 130,000 tonnes of oil per month on "favourable prices." Oil to be delivered will be 40-cent-a-barrel (3-dollar-a-tonne) cheaper compared with average prices, at which Serbs bought oil this year. According to Novakovic, the Siberian company offered "the most attractive prices" and became strategic partners of Serbia. The agreement will start being implemented in January 2002.