Sixth Day of NIS Investors Held in Novi Sad

NIS Group Operating Results in the first nine months of 2017 and the Bottom of the Barrel Project at the Pančevo Oil Refinery were the main topics of the sixth Day of NIS Investors, hosted at the corporate Business Centre in Novi Sad.

NIS’s operating results so far this year were presented to representatives of the investment community, banks, investment funds, small shareholders, financial analysts and diplomatic corps by Anton Fedorov, Deputy CEO and Director of Finance, Economics, Planning and Accounting.

He said that NIS’ financial results were significantly improved year on year, which was supported by the increase in oil prices in the global market and NIS’s programme of operational efficiency improvement measures, whose effect on EBITDA in 2017 is estimated at $5.1 billion.

Anton Fedorov, Deputy CEO and Director of Finance, Economics, Planning and Accounting, said that NIS’ financial results were significantly improved year on year.

Fedorov said that NIS’ net profit in the first three quarters of this year amounted to RSD 20.1 billion, 2.6 times more than in the same period last year. He also expressed his satisfaction with operating indicators, noting that there was an increase in refining and sales volumes and that oil output was above the plan.

The Bottom of the Barrel Project at the Pančevo Oil Refinery was presented to the guests by Andrey Tuchnin, First Deputy CEO in Charge of Refining and Sales.

He said that over €300 million would be invested in the project and that the commissioning of new plants in Quarter 3, 2019 was expected to bring multiple benefits.

The Bottom of the Barrel Project at the Pančevo Oil Refinery was presented to the guests by Andrey Tuchnin, First Deputy CEO in Charge of Refining and Sales.

First of all, the depth of processing will be increased to 99.2 percent, which will make the Refinery in Pančevo one of the most efficient in the world. Next, this will increase the production of top-quality motor fuels, diesel in the first place, but also petrol and LPG, and the surplus will be placed on the markets of Serbia, Bosnia and Herzegovina, Romania and Bulgaria. Moreover, coke, which has been imported to Serbia so far, will start being produced. Tuchnin also stated that the project delivery would bring environmental protection benefits mostly because once the new plants are constructed, requirements will be met to stop producing heavy fuel oil with a high sulphur content.

The presentations of NIS representatives were followed by a discussion that provided answers to the guests’ questions about the current operations and future projects of NIS. During the Day of Investors, the guests visited the Museum of NIS and the Corporate Training Centre at the Business Centre in Novi Sad.

Contact:

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About NIS

NIS is one of the largest vertically integrated energy companies in Southeast Europe. Its principal activities are exploration, production and refining, sales and distribution of a broad range of petroleum products, as well as the implementation of petrochemical and energy projects. Read more at http://www.nis.eu/en/about-us

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