Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Serbia’s NIS to Invest $568 Million in Retail, Oil Search

Nov. 28 (Bloomberg) -- Naftna Industrija Srbije AD, the Serbian oil and gas company controlled by OAO Gazprom Neft, will invest at least 50 billion dinars ($568 million) next year to expand its retail network and boost exploration.

NIS, as the Novi Sad, Serbia-based company is known, plans to process about 3.4 million tons of crude oil in 2013, a 40 percent increase from this year’s plan, it said in an e-mailed statement today. Its board of directors approved the 2013 business plan, which aims to “increase the resource base by 10 percent compared with the previous year.”

The company, majority owned by Gazprom Neft since 2009, completed the first stage of upgrades at its Pancevo refinery enabling NIS to produce Euro-5-quality fuels with lower sulphur content.

NIS plans to “significantly” increase sales in Serbia as well as Bulgaria, Romania and Bosnia-Herzegovina, and wants to have at least a 100 active filling stations in the three neighboring countries by the end of 2013, the company said.

Its shares fell 0.1 percent to close at 692 dinars today, trimming this year’s advance to 14 percent.

To contact the reporters on this story: Gordana Filipovic in Belgrade at gfilipovic@bloomberg.net or Misha Savic in Belgrade at msavic2@bloomberg.net;

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.