Naftna Industrija Srbije — BrandWiki

Naftna Industrija Srbije

Overview

Naftna Industrija Srbije

native name	Нафтна индустрија Србије
native name lang	sr
former name	Naftagas (1949–1991)
type	Public
traded as	BELEX: NIIS
industry	Oil and gas
foundation	1949 (as Naftagas)
location city	Novi Sad
location country	Serbia

Naftna Industrija Srbije (Нафтна Индустрија Србије; abbr. NIS / НИС) is a Serbian multinational oil and gas company with headquarters in NIS building, Novi Sad, Serbia. NIS is one of the most profitable companies in Serbia and one of the largest domestic exporters, employing 5,107 people (as of 2023) in Serbia.[1] As of February 2025, Gazprom Neft is the largest shareholder with 42.73% of NIS shares, followed by 28.87% owned by the Government of Serbia, 17.37% owned by Gazprom and rest by minority shareholders.

The main activities of the company are exploration, production and refining of petroleum and natural gas, sales and distribution of a broad range of petroleum and gas products, as well as the implementation of energy and petrochemical projects. The main NIS production facilities are in the Republic of Serbia, while subsidiaries and representative offices have been established in Bosnia and Herzegovina, Bulgaria, Romania, Russia and Angola.

History

1949–1991: Naftagas

2008–present: Gazprom ownership

2008–2022

In 2008, the Russian company Gazprom Neft became the majority shareholder, pursuant to the "Sales and Purchase Agreement" between the Republic of Serbia and the Russian Federation on the purchase of 51% of shares for €400 million and €550 million in investments until 2012.[4] Adjoining contracts signed with Gazprom were about inclusion of Serbia in the South Stream gas-pipeline project and the construction of an underground gas storage facility in Banatski Dvor. On 24 December 2008, final contract between the Government of Serbia and Gazprom were signed.[5]

In January 2010, about 20% of remaining shares of NIS were distributed by the Serbian government to the Serbian citizens.[6] In June 2010, NIS was transformed into an open joint-stock company, and is listed on the Belgrade Stock Exchange since 30 August 2010.[7] In March 2011, Gazprom Neft announced that it will purchase an additional 5.15% of shares of NIS, increasing their original share from 51% to 56%.[8] NIS held a monopoly on all oil imports in Serbia until 2011.

In accordance with its strategy of becoming a regional leader, in 2011 NIS started to expand its business rapidly in the region. Subsidiary companies were established in Bosnia and Herzegovina, Bulgaria, Hungary and Romania.

In 2012 the construction of hydrocracking and hydrotreatment facilities (MHC/DHT) was completed in Pančevo Oil Refinery, marking the completion of the first stage of modernization of NIS refining facilities.[9]

Two years later, in 2013, the realization of the cogeneration project began (production of electric and thermal energy from gas obtained from oil and gas fields in Serbia). The first cogeneration facility was commissioned in Sirakovo, after which another 13 mini power plants were put into operation. The surplus of electric energy, produced by NIS, is since then sold on the free market. The company strives towards constant implementation of new technologies, thus in 2016 an Amin Plant for the purification of natural gas started operating within the Plant for the preparation and transport of oil and gas in Elemir. The second stage of the Pančevo Oil Refinery modernization has begun in 2017 with the construction of the bottom-of-the-barrel plant with delayed coking technology, with the intent to make Pančevo Oil Refinery one of the most modern in Eastern Europe.

2022–present

In May 2022, the ownership structure was changed, with Gazprom Neft transferring 6.15% of shares to Gazprom, to avoid international sanctions on oil embargo introduced as reaction to the Russian invasion of Ukraine.[10] The sanctions however came into effect in December 2022 when the supply of Russian crude oil through the Adria oil pipeline from Croatia ceased.[11] Non-Russian oil could still be imported through the pipeline. As of 2023, the company has 5,101 employees and 3.370 billion euros in revenue, making it the second largest company in Serbia by total revenue.[1]

On 10 January 2025 United States announced sanctions on NIS which were meant to take place on 28 February. On 15 January 2025, Belgrade Stock Exchange halted all trading on NIS stocks for next 13 days, as a consequence of announced sanctions by the United States.[12] The introduction of the sanctions was delayed multiple times

2008–2022

In 2008, the Russian company Gazprom Neft became the majority shareholder, pursuant to the "Sales and Purchase Agreement" between the Republic of Serbia and the Russian Federation on the purchase of 51% of shares for €400 million and €550 million in investments until 2012.[4] Adjoining contracts signed with Gazprom were about inclusion of Serbia in the South Stream gas-pipeline project and the construction of an underground gas storage facility in Banatski Dvor. On 24 December 2008, final contract between the Government of Serbia and Gazprom were signed.[5]

In January 2010, about 20% of remaining shares of NIS were distributed by the Serbian government to the Serbian citizens.[6] In June 2010, NIS was transformed into an open joint-stock company, and is listed on the Belgrade Stock Exchange since 30 August 2010.[7] In March 2011, Gazprom Neft announced that it will purchase an additional 5.15% of shares of NIS, increasing their original share from 51% to 56%.[8] NIS held a monopoly on all oil imports in Serbia until 2011.

In accordance with its strategy of becoming a regional leader, in 2011 NIS started to expand its business rapidly in the region. Subsidiary companies were established in Bosnia and Herzegovina, Bulgaria, Hungary and Romania.

In 2012 the construction of hydrocracking and hydrotreatment facilities (MHC/DHT) was completed in Pančevo Oil Refinery, marking the completion of the first stage of modernization of NIS refining facilities.[9]

Two years later, in 2013, the realization of the cogeneration project began (production of electric and thermal energy from gas obtained from oil and gas fields in Serbia). The first cogeneration facility was commissioned in Sirakovo, after which another 13 mini power plants were put into operation. The surplus of electric energy, produced by NIS, is since then sold on the free market. The company strives towards constant implementation of new technologies, thus in 2016 an Amin Plant for the purification of natural gas started operating within the Plant for the preparation and transport of oil and gas in Elemir. The second stage of the Pančevo Oil Refinery modernization has begun in 2017 with the construction of the bottom-of-the-barrel plant with delayed coking technology, with the intent to make Pančevo Oil Refinery one of the most modern in Eastern Europe.

Operations

Exploration and production

NIS is the only company in Serbia which deals with exploration and production of crude oil and gas, as well as with production of geothermal energy.[17] The company disposes with all necessary equipment for the performance of a whole range of complex activities such as geophysical exploration, control of production of crude oil, gas and geothermal energy. The majority of NIS oil fields are located on the territory of Serbia, in the province of Vojvodina, but upstream has business operations both in Serbia and abroad. In 2011 NIS started to expand business in south-east Europe: in Bosnia and Herzegovina, Romania and Hungary.[18][19][20]

Energy

NIS is engaged in the production of electrical and thermal energy from traditional and renewable resources, the production and sale of compressed natural gas, sale of natural gas, trade of electrical energy, development and implementation of strategically important energy projects, as well as the projects for improving energy efficiency. In terms of electric energy trade, NIS is present on the markets of Serbia, Bosnia and Herzegovina, Romania, Slovenia and Hungary, as well as North Macedonia.

Refining

The company owns and operates oil refineries in Pančevo (annual capacity of 4.8 million tons of crude oil)[21][22][23] and Novi Sad (annual capacity of 2.6 million tons of crude oil), and natural gas refinery in Elemir. NIS refining complex produces a whole range of petroleum products – from motor gasoline and diesel fuel to mechanical lube oils and feedstock for the petrochemical industry, heavy fuel oil, road and industrial bitumen, etc.

Pančevo Oil Refinery produces motor fuel in accordance with Euro 5 standard, aviation fuel, liquid petroleum gas, petrochemical products, fuel oil, bitumen and other petroleum products. In 2017, Pančevo Oil Refinery was the first Serbian energy company to obtain the IPPC certificate (integrated certificate) from the state authorities on the integrated pollution prevention and control, confirming that the production process in the Refinery is fully compliant with the highest domestic and European standards in environmental protection.

NIS also offers services of crude refining to third parties.[24]

Sales and distribution

Sales and distribution in NIS includes foreign and domestic trade, retail of petroleum and other related products, as well as the wholesale of petroleum products. NIS develops aviation fuel supply, bunkering, lubricants and bitumen sale and distribution as separate businesses. As of 2019, NIS has two retail brands on the market: NIS Petrol (mass consumption brand) and GAZPROM (premium brand).

In 2010 NIS started a program of modernization of the retail network. First re-branded gas station "Zmaj 2" with the brand NIS Petrol on the highway in Belgrade was opened 13 January 2012.[25] In November 2012, NIS acquired 100% of OMV subsidiary operations in Bosnia and Herzegovina and its network of 28 filling stations.[26]

In December 2012, NIS opened the first petrol station under the Gazprom brand in Serbia,[27] and subsequently in Romania (the same month),[28]

Services

NIS has its own service capacities which fully meet the company's needs and can render services to third parties. NIS provides services by means of subsidiary companies "NAFTAGAS-Oilfield Services", "NAFTAGAS-Technical services" and "NAFTAGAS-Transport".