Oil Subsector
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Oil Subsector
The oil subsector consists of the extraction of domestic oil reserves in Serbia, the import of crude oil, the transportation of crude oil, the refining of oil derivatives, oil derivatives distribution, sales and its export. Domestic oil production has never been sufficient to cover local needs and Serbia has always been an importer of oil, with imports amounting to some 81% of its total annual needs. In addition, domestic production of oil and natural gas has been on the decline since 1996, mostly due to the low level of investment in the maintenance of domestic production, and the low intensity of exploration operations because of a lack of funds.
The oil transportation system includes the 154.4 km long section of the ex-Yugoslav oil pipeline from the river Danube on the Croatian border (the starting point of the pipeline is in Omi
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