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Oil refinery construction in Serbia

18. March 2010.

- Comico Oil will consider construction of oil refinery in Požarevac or Kovin if Smederevo rejects that project - said the company's Deputy CEO Radomir Radivojević.

Radivojević said at the press conference that the City Assembly of Smederevo should make the decision (on March 16, 2010) on whether to organize the referendum at which the citizens would decide if they wanted to back the construction of the refinery, in which Comico Oil intended to invest 250m USD.

Radivojević reminded that Comico Oil, a daughter company of Comico Overseas registered in Netherlands, offered 4.25m USD for rental of 115 ha in Smederevo's industrial zone where it intended to have a modern oil refinery built.

According to his words, that refinery would daily process 100,000 barrels of crude oil from Nygeria and produce euro-diesel, 100-octane gasoline, kerosene and liquefied petrol gas according to European standards.

As Radivojević explained, Comico Overseas consortium comprises US company Basic Equipment (, which produces equipment for refineries, investment bank Brian Merry and Global Gas, which deals with oil research and production.

He said that the project for construction of the refinery was being elaborated by the Transportation Institute CIP from Belgrade and that the Government of Serbia should make the decision at the meeting on Thursday, March 18th, on making of the restricted-purpose spatial plan for regulation of the location where the refinery should be built.

Radivojević also said that Comico Oil, registered in Serbia, would submit additional documentation and banking guarantee to the Ministry of Energy of Serbia for the energy license within seven days from the moment the lease contract for land in Smederevo was signed.

The Deputy CEO of Comico Oil, Radomir Radivojević, also said that they expected to talk with Russian Gazprom within next two months about cooperation in the market.

Source: eKapija