Crude oil processing fees down $1.40 against January

Belgrade, Feb 2, 2004 - The Serbian Ministry of Energy and Mining has cut February crude oil processing fees by $1.40 per tonne against January, to $34.56 per tonne at the Pancevo refinery and $25.56 at the Novi Sad refinery.

The fees, currently at their lowest since May 2003 when domestic plants started providing processing services, concern the production of primary gasoline.

In January 2004, the Pancevo processing plant charged $35.96 per tonne of crude oil, with the Novi Sad plant charging $26.96.

Serbia's crude oil processing fees are adjusted with global crude prices every month.