Serbian Oil Industry posts profits of 15 billion Dinars

NEWS 13.05.2022 16:42
NIS naftna industrija Srbije Gasprom Beograd
Source: Shutterstock

The Serbian Oil Industry (NIS) posted profits of 15.6 billion Dinars and paid 53.2 billion Dinars in taxes, the company said on Friday.

The statement said that NIS profits in the first quarter of 2021 stood at 1.5 billion Dinars (1 Euro – 118 Dinars) compared to the same period of 2020 when the company posted losses of 1.1 billion.

A press release said that the company’s priority in the first quarter of the year was to maintain the stability of the Serbian oil market and continue the development of the company which is majority owned by the Russian Gazprom.

It said that 904,900,000 tons of crude oil were processed at the Pancevo refinery, an increase of 20 percent. “Although faced with complext circumstances, we managed to maintain regular operations and regular supplies to the market,” NIS CEO Kyril Tyurdenyev is quoted as saying and adding that NIS will remain focused for the rest of the year.