Refinery in Novi Sad stays open - merger of two units and production doubling in the pipeline

The refinery in Novi Sad will not be closed, although there were some speculations that the new majority owner, Russian Gazpromneft is thinking about closing that unit due to its underperformance.

The management of the Petroleum Industry of Serbia (NIS) is currently working on the new model of development of refineries in order to gain maximum benefit from the merger of units in Novi Sad and Pančevo. The projects of these two refineries are considered as the production units of single refinery, and the process of making unique model of management and planning is close to end.

According to the announcement by Kiril Kravčenko, the CEO of NIS, different variants of development of lubricant production in the Novi Sad refinery are also taken in consideration.

- We plan to double production of oil and lubricants in the refinery in Novi Sad, while the development of strategic fuel base and the possibility of use of fuel cleaning equipment prior to completion of general reconstruction of Refinery Pančevo are possible as well - the CEO of NIS explained.