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Second Phase of Modernisation of Pančevo Oil Refinery
The second phase of modernisation of the Pančevo Oil Refinery is underway, and it primarily entails the construction of the Delayed Coking Unit, a 300 million euro project. The construction of the new unit will enable NIS to produce larger quantities of “high-value” petroleum product (petrol, diesel and LPG), which in turn will increase company profits in the refining segment. Moreover, the completion of the Delayed Coking Unit will mark the start of domestic production of coke (which Serbia currently imports). The quantities of coke that will be produced in Pančevo will satisfy the needs of the domestic market, and also enable Serbia to export this product abroad. This will enable NIS, one of the largest exporters in Serbia, to continue to expand to reginal markets, which are its primary goal when it comes to exports.
The continued modernisation of the Pančevo Refinery will have a significant impact on environmental protection as well. The commissioning of the new unit will enable us to cease the production of high-sulphur fuel oil, which is one of Serbia’s obligations in this field. Additionally, emissions of dust particles into the atmosphere will be reduced, and the refinery will be more energy efficient. In this way, this domestic refinery will continue with the implementation of environmental projects, in which it has invested over 70 million euros in the last several years. Owing to these initiatives, the Refinery became the first energy plant in Serbia to be granted an IPPC Permit for integrated pollution prevention and control. This permit confirms that the production process in the Refinery is in full compliance with the most stringed local and European standards in the field of environmental protection.
NIS operates in a very competitive market in Southeast Europe and constant modernization of refining facilities is our priority. Completion of Bottom-of-the-barrel project, by economic, technological and environmental parameters, will bring numerous benefits, which will allow our Refinery to be ahead of many others in Europe.