Naftna Industrija Srbije

Naftna Industrija Srbije
Native name
Naftna Industrija Srbije
Joint-stock company
Traded as BELEX: NIIS
Industry Petroleum
Predecessor Naftagas
Founded 1 October 2005 (2005-10-01) (Current form)
1949 (1949) (Founded)
Headquarters Novi Sad, Serbia
Key people
Vadim Yakovlev (Chairman)
Kirill Tyurdenev (General director)
Products Petroleum
Natural gas
Services Filling stations
Revenue 1.981 billion (2017)[1]
€227.58 million (2017)[1]
Total assets €3.271 billion (2017)[2]
Total equity €1.900 billion (2017)[2]
Owner Gazprom Neft (56.15%)
Government of Serbia (29.87%)
Number of employees
11,284 (2017)
Parent Gazprom Neft
Footnotes / references
Business ID: 20084693
Tax ID: 104052135

Naftna Industrija Srbije (NIS) is one of the largest vertically integrated energy companies in Southeast Europe, with headquarters in Serbia. NIS is one of the most profitable companies in Serbia and one of the largest domestic exporters. It employs around 11,000 people in Serbia and the region. The oil and gas company “Gazprom Neft” is the majority shareholder, owning 56.15 % of NIS shares, while 29.87 % of NIS share capital is held by the Republic of Serbia.  The remaining portion belongs to the citizens, employees, former employees and other minority shareholders.

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

NIS develops its business in the Balkans in several directions: exploration and production of oil and gas, retail network development, electric energy production and trade. The objective of NIS is to be the largest fast-growing energy company in the region and to set an example to others in terms of business efficiency and sustainable development dynamics.

Apart from business activities, NIS realizes significant socially responsible projects and it is one of the leading social investors in Serbia. Main investments in socially responsible projects include the support of youth, education and science, sports, culture, health care, as well as the realization of humanitarian projects. NIS is the first company in Serbia to receive the “St. Sava Award” from the Ministry of Education, Science and Technological Development of the Republic of Serbia for its contribution to education.


The precursor of today’s NIS was the Oil Exploration and Production Company with headquarters in Zrenjanin, founded in 1949 by the decision of the government of the FPRY. The Company for Oil Exploration and Production Naftagas was established in 1953 pursuant to the decision of the government of the Federal People’s Republic of Yugoslavia (FPRY), when management was relocated to Novi Sad. During the 1950s, first petrol stations and warehouses in this area were opened. Oil refineries in Pančevo and Novi Sad were put into operation in 1968. At the end of 1973, sales and distribution organizations Jugopetrol-Beograd and Jugopetrol-Novi Sad were integrated into the company.

Naftna industrija Srbije, in its present form, was established in 1991 as a public company for the exploration, production, refining and sales and distribution of oil, petroleum products and natural gas.

In 2005 NIS became a joint stock company, appointing its own Shareholders’ Assembly, Board of Directors and other managing bodies. In 2009 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.

In 2010 NIS became the public company with the largest number of shareholders (nearly five million at that time) listed on the Belgrade Stock Exchange. By listing NIS, Belgrade Stock Exchange got the largest “blue chip” company on its list. 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. 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 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. In addition to the impact on business, this plant also has significant ecological benefits, because it has the technology which completely prevents carbon dioxide emissions into the atmosphere, thus reducing the “greenhouse” effect. 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, which will make Pančevo Oil Refinery one of the most modern in Eastern Europe.

Business Activity

Exploration and production

The majority of NIS oilfields are located in the territory of Serbia, while NIS is carrying out exploration in Bosnia and Herzegovina, Hungary and Romania. Production includes the processes of production, collection, preparation and transport of oil, natural gas and geothermal waters, preventive and emergency maintenance of systems and accompanying infrastructure.


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 daughter companies “NAFTAGAS-Oilfield Services”, “NAFTAGAS-Technical services” and “NAFTAGAS-Transport”.


NIS has a modern Oil Refinery in Pančevo which 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.

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. NIS has over 400 petrol stations in Serbia, B&H, Bulgaria and Romania, and its retail network is the largest in Serbia. NIS has two retail brands on the market: NIS Petrol (mass consumption brand) and GAZPROM (premium brand).


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 Macedonia.

Social responsibility

Under the slogan “Future at Work”, NIS supports cultural and sports events, works on the improvement of education infrastructure, cooperates with 12 local self-governments in Serbia and endeavors to improve the life in those communities. Sponsorship and donation activities of NIS are focused on the realization of priority programs in sports, culture, science and education, environmental and social protection.

NIS is the first company in Serbia to publish the Report on sustainable development, prepared in accordance with the standards and quality of corporate reporting prescribed by international organizations Global Reporting Initiative and AccontAbility, and it has been doing so since 2010.

See also


  1. 1 2 "КОНСОЛИДОВАНИ БИЛАНС УСПЕХА (2017) - Naftna Industrija Srbije". (in Serbian). Retrieved 15 November 2017.
  2. 1 2 "КОНСОЛИДОВАНИ БИЛАНС СТАЊА (2017) - Naftna Industrija Srbije". Retrieved 15 November 2017.
  3. "Statistički prikaz vlasništva preduzeća". (in Serbian). Centralni registar, depo i kirling hartija od vrednosti. Retrieved 5 August 2014.
  4. "Основни подаци о привредном друштву". (in Serbian). Serbian Business Registers Agency. Retrieved 28 February 2018.

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