Naftna Industrija Srbije

NIS a.d. Novi Sad
Petroleum Industry of Serbia

Type	Public (BELEX: NIIS)
Industry	Oil and gas industry
Founded	1991 (1991)
Headquarters	Novi Sad, Serbia
Key people	Vadim Iakovlev (Chairman) Kirill Kravchenko (CEO)
Products	petroleum natural gas petrochemicals
Revenue	US$ 6.132 billion (2011)
Net income	US$510.782 million (2011)[1]
Employees	11,000
Parent	Gazprom Neft
Website	nis.rs

Company`s headquarters in Novi Sad

Naftna Industrija Srbije (NIS; Serbian: Нафтна индустрија Србије - НИС; meaning: Petroleum Industry of Serbia) is an oil company in Serbia. The company's main business is the oil and gas exploration, production, importing, processing, transportation, and marketing of oil and oil products in Serbia. It holds monopoly on all oil imports until 2011 except the high quality diesel fuel. NIS has its headquarters in Novi Sad, in the NIS building.

History

The privatization of NIS started in 2007. Several companies, including Gazprom Neft, MOL, OMV, Hellenic Petroleum, Rompetrol and Lukoil expressed interest to acquire the company.^[2] However, on 25 January 2008 Serbia and Russia signed an agreement giving 51% of NIS's shares to Gazprom Neft for €400 million and €550 million in investments until 2012.^[3] Adjoining contracts signed with Gazprom were about inclusion of Serbia in the South Stream project and the construction of a gas reserve facility in Banatski Dvor. On 24 December 2008, final contract between the Government of Serbia and Gazprom were signed.^[4] In January 2010. about 20% of remaining shares of NIS were distributed by the Serbian government to the Serbian citizens.^{[citation needed]}

In October 2010, NIS began refurbishing its refinery in Pančevo, at a cost of US$26 million.^[5]

Operations

The company is divided into four divisions:

• NIS-Naftagas
• NIS-Petrol, which include: oil refineries in Pančevo and Novi Sad, and oil and gas distribution;
• NIS-TNG, which include parts of companies that deals with LPG;
• NIS-Tourism, which include companies resorts, hotels and restaurants.^{[citation needed]}

In 2007 NIS had a profit of approximately 9 billion RSD (US$170 million) and 262 billion RSD (US$5 billion) of revenues. In 2007 NIS contributed to Serbian budget with approximately US$1.2 billion. It has 11,000 employees.

The company owns and operates oil refineries in Pančevo (annual capacity 4.8 million tons of crude oil) and Novi Sad (annual capacity 2.6 million tons of crude oil), and natural gas refinery in Elemir. It owns and operates 500 gas stations across Serbia, Bosnia and Herzegovina and Montenegro, as also eight large terminals, 44 warehouses, and aviation fuel pumping facility at Belgrade Nikola Tesla Airport.^{[citation needed]}

References

1. ^ [1]
2. ^ "Serb govt to continue talks on Russian energy pact". Reuters. 2007-12-29. http://uk.reuters.com/article/oilRpt/idUKL2917392820071229. Retrieved 2007-12-31. 
3. ^ "Serbia signs strategic energy deal with Russia". Reuters. 2008-01-25. http://uk.reuters.com/article/worldNews/idUKL2515142420080125. Retrieved 2008-01-25. 
4. ^ "Gazprom To Gain Stake In Serbia's NIS". Downstream Today. 2008-12-22. http://www.downstreamtoday.com/News/Articles/200812/Gazprom_To_Gain_Stake_In_Serbia_s_NIS_14364.aspx. Retrieved 2008-12-25. 
5. ^ "Serbia’s NIS Commences $26 Million Pancevo Refinery Upgrade". Bloomberg. 2010-10-15. http://www.bloomberg.com/news/2010-10-11/serbia-s-nis-commences-26-million-pancevo-refinery-upgrade.html. Retrieved 2010-11-24. 

External links

• Official website