Serbian Attempts to Review Nis Stake Purchase By Gazprom Neft Unacceptable - Diplomat - August 07, 2008 - MOSCOW. Aug 7 (Interfax) - Moscow has called unacceptable Serbia's attempts to re-consider the financial terms of the acquisition by Russia's Gazprom Neft (RTS: SIBN) of a stake in Naftna industrija Srbije (NIS). "There is information about attempts by some members of the Serbian government to re-consider the financial terms of the acquisition by Gazprom Neft of the NIS shares. This, of course, is totally unacceptable and will make it more difficult to deal with a whole set of issues mentioned in the agreement, and moreover, will alarm other investors," Alexander Alexeyev, Director at the Russian Foreign Ministry's Fourth European Department, said in an interview published in the Vremya Novostei newspaper on Thursday.It was reported that Serbian Deputy Prime Minister and Minister of Economy and Regional Development Mladan Dinkic said in July, according to Serbian daily Politika, that Serbia demands from Russia's Gazprom Neft to increase the price for the purchase of NIS.
Then they now find themselves in between the proverbial “rock and a hard place”.
The whole place is beginning to look like a powderkeg.
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Serbia’s attempts to re-consider the financial terms of the acquisition by Russia’s Gazprom Neft
Balkan Oil and Energy PoliticsOne analyst estimated that the oil reserves in Hercegovina could make Bosnia one of the richest countries in the world and another went as far as saying the Hercegovina reserves could be as substantial as those of Saudi Arabia (although this could be a great exageration). Estimates say that BH could be sitting on roughly 500 Million tons of oil . Apparently, some energy analysts are taking this seriously.