Sitemap

Srbijagas to Stop Free Supplies to Other State-Owned Companies

CorD Recommends

Montenegro Earns €17 Million from Toll Roads in Two Years

Montenegro has generated €17 million in toll...

John Lennon’s Acoustic Guitar Sells for Over $2.8 Million

An acoustic guitar once played by John...

Croatia Leads Europe in Coastal Water Quality

According to a recent report by the...

Montenegro Receives €76 Million EU Investment to Boost Rail Infrastructure

Montenegro is improving its rail infrastructure with...

More People Opting Out of News Consumption Due to Content

The latest research shows that an increasing number of people are avoiding following the news, describing it as depressing,...

French Firms Suez and Vinci to Oversee Wastewater Treatment in Belgrade

The Serbian government has enlisted French companies Suez International SAS and Vinci Construction Grands Projets for the design, construction,...

EU Ambassadors Reach Agreement to Open Accession Talks with Ukraine and Moldova

EU ambassadors have reached a preliminary agreement to open accession talks with Ukraine and Moldova, according to an announcement...

Chinese Authorities Use Artificial Rain to Quell Major Forest Fire

In an innovative approach to firefighting, authorities in China's northern Shanxi province have managed to extinguish a significant forest...

Dušan Živković Named New CEO of Elektroprivreda Srbije

Elektroprivreda Srbije (EPS) has announced the appointment of Dušan Živković as its new Chief Executive Officer, following a decision...

Srbijagas will terminate free gas supplies to other state-owned companies, its director Dušan Bajatović said on March 9.

According to his words, decisions, taken by previous governments on gas prices have “eaten” €500 million out of Srbijagas’ potential profit, Tanjug news agency informed.

Bajatovic mentioned fertilizer maker HIP Azotara, steel mill Zelezara Smederevo, and chemicals maker MSK Kikinda while speaking at the Kopaonik Business Forum.

He also stated that cutting on the “social policy” in Srbijagas has allowed the company to realise a profit of 3 billion dinars (€24.3 million) last year. Projections envisaged a net loss of 6.76 billion dinars in 2015.

Srbijagas covered €60 million of its debts with own resources last year and the same amount will be paid in 2016, Dušan Bajatović stated.

According to him, a total of €300 million out of the company’s initial €800 million debt to creditors was paid by the state budget.

Meanwhile, the projected average gas price for 2016 of below €130 per 1,000 c/m at the Russia-Ukraine border.

Related Articles

US Ambassador Hill Commends Serbia’s Role in Fostering Balkan Unity

In a compelling affirmation of Serbia's efforts towards regional cohesion, Christopher Hill, the US Ambassador to Serbia, praised the nation's initiative in spearheading the...

31st Kopaonik Business Forum Kicks Off Amid Global Uncertainties

The prestigious Kopaonik Business Forum, now in its 31st year, commenced on the Serbian ski resort of Kopaonik, with a spotlight on "The New...

Aleksandar Vlahović, President of the Serbian Association of Economists

Much Better Institutions Needed

It is my sincere hope that Serbia’s new government will make radical strides when it comes to the further implementing of structural reforms and...

Nine Serbian Firms Among Southeast Europe’s Top 100 Companies

Nine Serbian companies have secured spots on the list of Southeast Europe's 100 most successful businesses in 2022, the SEE TOP 100.  This prestigious...

Milorad Janković, General Manager of Gorski Hotel&Spa, Kopaonik Ski Resort

Every Season Presents A New Challenge

The Gorski Hotel&Spa team comprises people who have a clear vision and idea. They are pioneers who don’t follow in anyone else’s footsteps. With...

Kopaonik Business Forum Held In Belgrade

The Kopaonik Business Forum was held in the last week of May in a changed format, with a different date, and, this time instead...

Serbia Opens Its Section Of Balkan Stream Gas Pipeline

Serbia officially opened on January 1 its section of the extension of Gazprom's TurkStream pipeline for the transit of natural gas to Europe dubbed Balkan Stream, the...

Further development of the construction sector requires quality management

Kopaonik Business Forum 2020 Serbia is recording a huge increase in construction, and in 2020, it is expected to set a record in the construction...