Secrecy Surrounds Beijing-Backed Refinery Deal in Serbia

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Serbian residents are opposing a $2.8 billion oil refinery project backed by Chinese state-owned companies due to concerns over pollution, while the Serbian government is keeping the deal's framework agreement secret, citing it as a 'business secret'.

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Market impact analysis based on bearish sentiment with 80% confidence.

Sentiment
Bearish
AI Confidence
80%
Time Horizon
Short Term

Article Context

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Residents of Smederevo, a Serbian industrial city already blanketed by pollution from a Chinese-owned steel mill, are pushing back against plans for a $2.8 billion oil refinery backed by Chinese state-owned companies -- a project negotiated largely out of public view. Nearly two years after the refinery was announced, Serbia's government has refused to release the framework agreement signed with China Energy International Group. Serbia's Energy Ministry told RFE/RL the deal was a "business secret" and disclosing the agreement would interrupt negotiations…

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Original article published by OilPrice.com on February 17, 2026.
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