In the first half of 2024, Serbian oil company NIS focused on advancing its development and modernization efforts, investing €208.4 million. This represents a 111% increase compared to the same period last year.
Key highlights include:
- Pancevo oil refinery: The company prioritized maintaining regular market supply during the most complex turnaround in the refinery’s history, positioning it as one of the most modern and environmentally advanced refineries in Europe.
- Investments: Significant funds were allocated to oil and gas exploration, production, and the continued modernization of the retail network.
Financial performance:
- Average brent crude price: $84.10 per barrel, up 5% from the previous year.
- Net Profit: €45.3 million
- EBITDA: €195 million
- Refined crude oil and semi-finished products volume: 1.4 million tons
- Total petroleum product sales volume: 1.65 million tons
- Total oil and gas production volume: 575,000 tons of oil equivalent
For the remainder of the year, NIS will continue to focus on enhancing financial and operational results, implementing its investment cycle, and advancing its energy transition and green agenda.
