NIS planning investments of USD 2.2 billion by 2025 – Company expects annual growth of profit by 4%

The Board of Directors of Naftna Industrija Srbije (NIS) adopted a development strategy for the period until 2025, envisaging investments of USD 2.2 billion and an average annual growth of profit by 4%.

The company says that it will invest in those projects in Serbia and the region that have the maximum effect on total operations.

– The project of modernization of refinery facilities, that is, the project of increasing the depth of the processing in the Pancevo oil refinery, remains the key project for NIS in the upcoming period. The realization of this project, worth over EUR 300 million, will enable additional diversification of the production program by products with a higher yield, but also enable the supplying of the market with high-quality fuel, which will contribute to the energy stability of Serbia – it is emphasized in the press release by NIS.

It is announced that the commercial operations of the deep processing facility, using the delayed coking technology, will begin in the third quarter of 2019.

Kirill Tyurdenev, CEO of NIS, said that the long term goal was for NIS to become the leading energy company in southeast Europe.

– The realization of the company's strategic projects will enable an increase of profitability of operations for the shareholders – said Vadim Yakovlev, the president of the Board of Directors of NIS and the first deputy CEO of the Russian Gazpromneft.

Gazpromneft's share in NIS' capital is 56.15%, whereas the Republic of Serbia's share is 29.87%. The remaining shares belong to citizens, employees, former employees and other minority shareholders.

NIS a.d. Novi Sad

NIS a.d. Petrol Rafinerija nafte Pančevo

NIS

Naftna Industrija Srbije investments

Naftna Industrija Srbije refinery

production of fuel

delayed coking

Kirill Tyurdenev

Gazpromneft

Vadim Yakovlev