Djedovic Handanovic: Oil at $133, Gas Reserves 692 Million
Mining and energy minister Dubravka Djedovic Handanovic said in Ljig that crude oil topped 133 dollars a barrel today, while Serbia's gas reserves stand at 692 million cubic meters.
133 dollars a barrel. That is what crude oil cost today, according to Dubravka Djedovic Handanovic, Serbia’s mining and energy minister in a technical mandate. She made the statement in Ljig, at the handover of contracts for co financing energy efficiency projects in public buildings, in remarks carried by Tanjug at 2:51 p.m.
“It has topped 133 dollars a barrel today. That is certainly a record level going back several years, and a consequence of everything happening on the geopolitical stage,” the minister told reporters. She did not specify which type of crude oil the figure referred to.
Two different figures on the same day
The minister’s number does not match the morning market reports from the same day. According to Blic, as carried by Naslovi.net, the price of Brent crude crossed the 108.13 dollar mark per barrel this morning, while European natural gas approached about 81 euros per megawatt hour. Euronews and Insajder, also via Naslovi.net, reported the same figure for Brent. Whether the gap between 108 and 133 dollars comes from a different type of oil, a different moment of measurement during the day, or something else entirely cannot be determined from either the minister’s statement or the morning reports, since neither source mentions the other’s figure.
If the 133 dollar figure refers to Brent, it would mark a record wider than any recorded so far. This paper previously reported that Brent had climbed to 108 dollars, with European gas prices rising above 1,000 dollars. Until now, the highest Brent price since the war with Iran began on February 28 was 126.41 dollars, recorded on April 30.
Record-high diesel, gas reserves at 692 million cubic meters
The minister also said diesel quotations exceeded 1,500 dollars per ton for the first time, reaching 1,550 dollars per ton. She attributed this to problems at Russian refineries and infrastructure issues in the Middle East and the Persian Gulf.
“Diesel quotations have for the first time exceeded 1,500 dollars per ton, in fact they’ve reached 1,550 dollars per ton, which is an unprecedented figure, precisely because of the problems with refineries in Russia, the problems with infrastructure in the Middle East, in the Persian Gulf, and all of that is creating pressure,” Djedovic Handanovic said.
According to the minister, gas reserves stand at 692 million cubic meters, part of it held in the Banatski Dvor storage facility, part of it in Hungary.
“Gas reserves are at an extremely high level, that is, at 692 million cubic meters,” the minister said.
In the state commodity reserves, she added, there are currently around 270,000 tons of diesel and 57,000 tons of gasoline, quantities that, she said, have been significantly increased over the recent period and replenished by however much has been released onto the market.
Coal delayed by the Danube, arriving by rail and truck
More than 1.7 million tons of coal are currently at depots, against a target of two million tons. A low water level on the Danube slowed the delivery of 250,000 tons of coal from Constanta by barge, so part of it is now arriving by rail from Constanta and by truck from the port of Bar to the Nikola Tesla power plant.
“The energy situation was extremely complex throughout the summer because of the low water level of the Danube, which affected certain preparatory work for the heating season,” Djedovic Handanovic said.
The minister said she expects the water level to rise during October, when barges should be able to transport the remaining quantities more quickly.
NIS and excise duties
Djedovic Handanovic also mentioned problems involving the Petroleum Industry of Serbia (NIS), without detailing their nature, and said that because of rising fuel prices across Europe, Serbia had further cut excise duties in order to keep prices under control.
“We also have our own challenges with the Petroleum Industry of Serbia, so regardless of all those challenges, preparations for the heating season are underway,” the minister said.
NIS currently operates under an operating license from the US Office of Foreign Assets Control (OFAC), valid until September 30, 2026. The deadline is two weeks away, and the minister did not say in Ljig what happens once it passes.
“We continue to monitor the situation, we are working diligently and responsibly regarding external influences,” Djedovic Handanovic said.
She stressed that there have been no restrictions in fuel or electricity supply so far, unlike in some neighboring countries, which she mentioned without specifying what disruptions were involved there.
