Russia's Gazprom Neft transfers money to Serbia for NIS stake
02 February 2009 17:34 [Source: ICIS news]
PRAGUE (ICIS news)--The refining subsidiary of Russian giant Gazprom, Gazprom Neft, has transferred €400m ($513m) to Serbia to pay for a 51% stake in national oil monopoly NIS, the Serbian Treasury confirmed on Monday.
Analysts now expect Gazprom petrochemical subsidiary Sibur to move to take over the largest Serbian petrochemical company, HIP Petrohemija, which is located next to NIS in Pancevo, north-east of Belgrade, and is reliant on the refiner for most of its petrochemical feedstock.
($1 = €0.78)
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By: Will Conroy
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