NIS is a company with a rich history.

Since the first steps in 1949 when the early beginnings of the Yugoslav oil industry were only emerging, it has grown into a successful energy company.

Retrospection shows many years marked with great enthusiasm, hard work, and unsurmountable progress.


The crucial second phase of the Oil Refinery Pančevo modernization process — the construction of a plant for deep refining using the technology of delayed coking — has officially commenced. NIS has invested more than 30 million euros in this project; in this way, it continues the tradition of continuous modernization of its plants and work processes with the aim of supplying the market with fuels of the highest quality.


An investment worth more than 30 million euros — the Amine Plant for purification of natural gas has been put into operation as part of the unit for preparation and transport of oil and gas in Elemir. In addition to its beneficial effects on NIS’s business operations, this project is also significant in terms of environment protection, since it prevents the discharge of carbon dioxide into the atmosphere.


GAZPROM petrol stations network has started selling a G-Drive 100 – new generation fuel all over Serbia. New 100-Octane petrol produced in the Pancevo Refinery consists of active components that provide increased engine performance efficiency, it prolongs its lifespan and prevents malfunctions.


NIS has launched the sale of the first branded motor fuel, premium Euro Diesel Ultra D, which is enriched and improved in order to protect the engine as best possible. Ultra D is a Euro 5 quality diesel fuel produced in the Pancevo Oil Refinery, with subsequently blended additives of superior quality.


NIS has started the implementation of the project for development of the power supply system for company fields.NIS opened a new cogeneration facility in Sirakovo, first of its kind at the Balkans, which is producing electric and thermal energy from gas obtained in that collective and shipment station.


A ceremonial opening of the first GAZPROM premium brand petrol station in Belgrade was held. This retail network started to expand rapidly in the region as well, namely in Bosnia and Herzegovina, Bulgaria and Romania.


By opening two new bunkering stations for ships on the Danube, NIS js.c. launched a new business activity – a secure supply of domestic and foreign ships and shipping companies with top quality fuel at important waterways in Serbia.


The construction of the hydrocracking and hydrotreatment facility at the Pančevo Oil Refinery was completed, marking the completion of the first stage of modernisation of NIS refining facilities.


The NIS Board of Directors adopted a long-term NIS Development Strategy for the Balkans by 2020 for the first time in the Company’s history. The Company’s main strategic goal by 2020 is to become the most efficient, fastest-growing energy company in the Balkans, maintaining its leadership position on the Serbian market and
becoming one of the top three companies in the Southeaster Europe.


NIS became a public company with the highest number of shareholders (nearly five million) listed on the
Belgrade Stock Exchange. Consequently NIS became the largest “blue chip” company listed on the Belgrade Stock Exchange.


By following its strategy towards becoming the regional leader, NIS started to expand its business rapidly in the regional market as well. Subsidiary companies were established in Bosnia and Herzegovina, Bulgaria, Hungary and Romania, and the Company’s branch office in Brussels was opened to provide assistance in Serbia’s European integrations.


The Russian company “Gazprom Neft” became the Company’s shareholder, pursuant to the interstate Sales Agreement between the Republic of Serbia and the Russian Federation on Purchasing 51% of the shares.


NISOTEC oil and lubricant brand entered the Serbian market. The lubricant business in NIS includes the development, production and sale of oil and technical liquids for consumers, commerce and industry.


The Company received the status of a joint stock company, appointing its own Shareholders’ Assembly, Board
of Directors and other managing bodies.


Some production companies were destroyed, most of the damage having been caused to the refineries in Novi Sad and Pančevo during the NATO bombing campaign.


The public enterprise “Naftna Industrija Srbije” was established. All the companies in the oil industry which had operated independently to that point were now united into a single company for the first time.


Oil exploitation commenced in Angola and this was the first time the Company entered in a concession agreement in a foreign country. Since then, NIS has produced over 4.2 million tonnes of oil at the concession reservoirs in


A new record in the annual oil production of 1,3 million tonnes was achieved.


A record annual gas production of 1,14 billion m3 was achieved.


Oil refineries were put into operation in the cities of Novi Sad and Pančevo. The first two decades were marked with the construction of primary refining plants. The secondary plants were built during the second period lasting from 1980 to 1992 for the purpose of deep crude oil processing. In terms of their technological capacity, the refineries were at the world’s top at that time.


Velebit oil reservoir, the country’s largest reservoir, was discovered. Velebit oil is suitable for the production of naphthenic base oils due to its chemical composition. Base naphthenic oils are highly appreciated, because they are deficient in Europe and huge volumes are imported from the USA and Asia. NIS would soon launch the production of naphthenic base oils from the abovementioned Serbian Velebit oil.


The construction of the first main gas pipeline connecting all oil fields with the City of Pančevo, where the first refinery was to be constructed, was completed.


“Belgrade Aeroservice” was established for the purpose of supplying air carriers with jet fuel. In the same year, an intensive cooperation with “JAT,” the Yugoslav air carrier, was established. The cooperation was later extended to international air carriers as well.


An intensified construction of first petrol stations in Serbia’s major cities. Initially, the sale of petroleum products was measured in dozens of thousand tonnes to exceed the limit of a million tonnes a few decades later.


The first oil field was discovered in the North of the country – near Jermenovci in the Banat district – close to a gas reservoir. Even though this is not a large field, it has been pivotal for the development of the entire oil industry in Serbia. Resources were allocated for further exploration and development of the Company and the staff acquired valuable knowledge in oil and gas exploration and production at this first site.


The Oil Exploration and Production Company was founded. The aim of the newly founded company was to discover the “black gold” in the eastern part of the Pannonian Basin. The first natural gas reservoir was discovered in Serbia five months after the Company’s establishment. The government started to allocate funds for
exploration and investments and also banks started to approve loans for the development of oil and gas fields.


The Oil and Petroleum Product Trading Company was founded. Through the nationalisation and acquisition of existing small-scale petroleum storage facilities and the construction of new ones, a network of storage facilities was created. This prepared the grounds for a future distribution network which continued to develop alongside the road network and an increase in the number of vehicles.

In this section: