News

NIS Announces Additional Investments in Pancevo Refinery of USD 80 Million

Friday, 08. Jan 2021.

The CEO of Naftna industrija Srbije (NIS), Kirill Tyurdenev, stated today that the company would continue investing in the Pancevo Refinery after the opening of the Deep Processing facility and that the next project was the modernization of the catalytic cracking facility.

It should enable the manufacture of additional products, including an increase in the production of propylene.

He reminds that, after the opening of Deep Processing, NIS guarantees European quality of petrol and diesel fuel to drivers in Serbia and that the production complex also has ecological benefits, because the production of mazut with a high sulfur content has stopped, and the emission of harmful matters into the atmosphere has been reduced as well.

Tyurdenev pointed out that, by increasing the efficiency of the operations and reducing the costs, NIS had maintained the stability of the prices and the local market, although various factors in the global market makes it impossible to project the price of oil. He points out that the company imports two thirds of the oil it processes, whereas the rest is produced in Serbia.


Source: eKapija

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