High Quality Crude in TereminaGuys: Sorry I missed this. Looks like high quality crude is coming out of Teremina. See below about 1/3 down. I believe NIS issues an operational report on or about 2/29. Hopefully they will give us more insights at that time. --------------------------------------------------------- Oil and electricity are coming from NIS's fields The first three deliveries of black gold from the Theremija deposit have already arrived for further testing and processing at the Pancevo refinery Started by Jasna Petrovic-StojanovicThursday, 07.11.2019. u 22:55 Total investments in Romania so far amount to 110 million euros (Photo NIS) From our Special Rapporteur Timisoara - From the oil and gas fields in Serbia, from which they extract domestic oil and gas, the Oil Industry of Serbia, a subsidiary of Gazpromneft, has expanded to include deposits of black gold and blue fuel in Romania. NIS Petroleum Romania, a subsidiary of NIS, completed the construction of two surface infrastructure facilities at Teremiy and Zombolie locations in mid-2019, from which it began experimental production of crude oil and gas that is converted to electricity through gas generators . The first three deliveries of crude oil from the Theremija field have already been further tested and processed at the Pancevo refinery. Vanja Aleksic, managing director of NIS Petrol in Romania, says it is good quality light oil. But that is not all, because the Zhombol field also draws gas from which electricity is produced. The electricity thus obtained is sold on the Romanian market. In addition, electricity from cogeneration of NIS in Serbia is still being sold on the domestic market, then in Hungary and Slovenia. The volume of contracted electricity trade for 2018 was 1.25 terawatt hours. NIS has been working in Romania for the last eight years in the fields of oil and gas exploration and production, petroleum products trading and electricity trading. The total investment in Romania so far is 110 million. NIS petrol currently has six exploration licenses, and 3D seismic tests have been performed on an area of more than 800 square kilometers. Six exploratory wells were drilled, four more were drilled and an overhaul was completed. Ore rent is regularly paid and in Romania it ranges from seven to 12 percent. With regard to the sale and distribution of petroleum products, in accordance with the adopted plans, NIS has started construction of a new retail facility in Bucharest under the brand "Gasprom", which will be completed in mid-December 2019. The new facilities should confirm the potential for further development of the retail network . Taking into account the achieved results, NIS is continuing its exploratory work and finding new opportunities for increasing its resource base and expanding its retail network - says AleksiHe points out that in Romania, the consumption of Eurodiesel is much higher - about 74 percent (gasoline 26 percent), while the sale of liquid petroleum gas and biodiesel is low. Liquid petroleum gas consumes only three percent of drivers. Asked how it is possible that Eurodiesel consumption is so high when the EU, of which Romania is a member, constantly urges a reduction in the number of diesel vehicles, Ileana Baltatu, deputy director general of NIS Petrol for Transport and Distribution, says that from next year in Romania, a levy of 125 a year will be introduced to discourage diesel riders. It is possible to charge these fees both daily and monthly for the same purpose - to reduce the emissions of gases. Each EU Member State is given time to meet the prescribed biofuel requirements by 2025. In addition, hybrid vehicles and electric cars are also present in this market. Despite all this, research shows that next year's Eurodiesel participation will be much higher than other derivatives. By the way, the state in Romania charges excise duty of 48 to 52 percent for each liter of fuel - says Ileana Baltatu.