Third Phase of Modernization of Pancevo Oil Refinery Planned

The board of directors of Naftna Industrija Srbije (NIS) has adopted a new business plan for 2023, which confirms stable business operations and the realization of key projects, for which RSD 49.1 billion has been secured, which is the amount that will be invested in the current year.

According to the document published on the Belgrade Stock Exchange, the NIS plan entails very ambitious investments, whereby this oil company will continue to finance key development projects in all areas of business, and the largest amount of funds will be allocated to the oil and gas exploration and production segment.

In the field of oil refining, the priority will be on the continuation of the preparation of the third phase of Pancevo Oil Refinery modernization, i.e. the activities on the upcoming project for the reconstruction of the catalytic cracking plant (FCC) and the construction of a new ETBE plant (high-octane petrol components).

When it comes to the field of sales and distribution, the modernization and development of the retail network will continue, so during 2023, the construction and reconstruction of nine petrol stations is planned in Serbia only. Additionally, the implementation of the strategic project of reconstruction and modernization of petroleum product storage facilities is planned.

The implementation of projects in the field of renewable energy sources is also planned, primarily the continuation of the construction of photovoltaic power plants at the company's locations.

For NIS, the priority remains on the further synergy with HIP Petrohemija, the implementation of projects to strengthen energy efficiency, as well as on further digitalization of the company at all levels.

NIS a.d. Novi Sad

Beogradska berza a.d. Beograd

NIS a.d. Petrol Rafinerija nafte Pančevo

Naftna industrija Srbije

NIS

Belgrade Stock Exchange

Pancevo Oil Refinery

modernization of Pancevo Oil Refinery

NIS business plan

production of oil

processing of oil

catalytic cracking

ETBE plant

construction of gas stations

construction of photovoltaic power plants

photovoltaic power plants