New investment following the break-up of Yugoslavia has
had little effect on declining onshore oil production, which peaked back
in the 1970s. Declines are expected to continue.
However some small increases in gas output are forecast as new
infrastructure is created and demand recovers.
There is no offshore production of oil or gas in Serbia and none is
After growing rapidly up to 2007, as Serbia shook off the
historical influence of Yugoslavia, oil consumption is expected to
flatten off whilst gas consumption continues to expand.
Imports of oil will remain fairly constant until higher prices quell
demand growth in 2006 while gas imports grow a little.
NB. Includes Montenegro and Kosovo.