Serbian Minister of Mining and Energy Petar Skundric said on Monday that Serbia has an interest to preserve its oil refining industry, since it produces the best and the cheapest oil derivatives for both domestic and regional needs, which leads Serbia's oil sector through great transformation.

“If we want to realize our plans, we need joint investments in energy infrastructure,” stated Skundric while opening the Second Oil Forum in Belgrade.

He pointed out that an integrated market of oil, gas and electric power is the only solution for overcoming everyday energy sector problems of the Balkan countries.

As Skundric underscored, the countries of Southeastern Europe have excellent geostrategic position since they are located on a transit route between Central Europe, Caspian Basin and Middle East, thus representing the key area for the construction of European energy infrastructure.

General Secretary of the South Eastern Europe Energy Community (SEEEC) Slavco Nejkov supported Skundric's recent statement in which he suggested the creation of a regional energy strategy, which would contribute to region's safe energy sources supply.

More than 100 representatives of governments, oil companies and investors are participating in the Belgrade Oil Forum, organized on November 8 and 9 by the Serbian Ministry of Mining and Energy and the Vienna-based SEEEC.