LUKoil reportedly interested in taking a stake in Serbia's NIS

Nov 12, 1999 01:00 AM

According to news reports from Belgrade, LUKoil has expressed interest in participating in the privatisation of Serbia's state oil company.
It is not clear how large of a stake LUKoil would like to buy or whether the Russian company has yet made any concrete offer for Nafto Industrije Srbija (NIS). The Yugoslav government plans to convert NIS into a joint-stock company next January and then offer share packages to foreign investors.
According to Serbian media, BP-Amoco and Shell as well as Hungary's MOL have also indicated an interest in NIS.
Russia and China are currently Yugoslavia's main sources of crude oil. During the UN bombing campaign in Kosovo earlier this year, the Russian government objected vehemently to plans for sanctions on Belgrade that would have impeded deliveries of Russian oil and fuel to the Balkan state.

Source: NewsBase
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