Naftna Industrija Srbije (NIS; ; meaning: Petroleum Industry of Serbia) is an oil company in Serbia

Serbia

Serbia , officially the Republic of Serbia , is a landlocked country located at the crossroads of Central and Southeast Europe, covering the southern part of the Carpathian basin and the central part of the Balkans...

. The company's main business is the oil

Petroleum

Petroleum or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface. Petroleum is recovered mostly through oil drilling...

 and gas

Natural gas

Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...

 exploration, production, importing, processing, transportation, and marketing of oil

Petroleum

Petroleum or crude oil is a naturally occurring, flammable liquid consisting of a complex mixture of hydrocarbons of various molecular weights and other liquid organic compounds, that are found in geologic formations beneath the Earth's surface. Petroleum is recovered mostly through oil drilling...

 and oil products in Serbia. It holds monopoly on all oil imports until 2011 except the high quality diesel fuel. NIS has its headquarters in Novi Sad

Novi Sad

Novi Sad is the capital of the northern Serbian province of Vojvodina, and the administrative centre of the South Bačka District. The city is located in the southern part of Pannonian Plain on the Danube river....

, in the NIS building.

History

The privatization of NIS started in 2007. Several companies, including Gazprom Neft

Gazprom Neft

Gazprom Neft is the fifth largest oil producing and refining company in Russia. It's the oil arm of Gazprom, which owns 80% of Gazprom Neft's shares....

, MOL, OMV

OMV

OMV is Austria's largest oil-producing, refining and gas station operating company with important activities in other Central European countries...

, Hellenic Petroleum

Hellenic Petroleum

Hellenic Petroleum S.A. is the largest oil refining company in Greece and with its roots dating to 1958 with the establishment of the first oil refinery in Greece ....

, Rompetrol

Rompetrol

The Rompetrol Group N.V. , is a Romanian oil company, that operates in many countries throughout Europe:unclear what "market share": refining? downstream? extraction? well services?*Romania - 2nd largest oil company, 40% market share...

 and Lukoil

LUKoil

Lukoil/LUKoil ; ) is Russia's second largest oil company and its second largest producer of oil. In 2009, the company produced 97.615 million tons of oil; ....

 expressed interest to acquire the company. However, on 25 January 2008 Serbia and Russia signed an agreement giving 51% of NIS's shares to Gazprom Neft

Gazprom Neft

Gazprom Neft is the fifth largest oil producing and refining company in Russia. It's the oil arm of Gazprom, which owns 80% of Gazprom Neft's shares....

 for €400 million and €550 million in investments until 2012. Adjoining contracts signed with Gazprom were about inclusion of Serbia in the South Stream

South Stream

South Stream is a proposed gas pipeline to transport Russian natural gas to the Black Sea to Bulgaria and further to Greece, Italy and Austria. The project is seen as rival to the planned Nabucco pipeline...

 project and the construction of a gas reserve facility in Banatski Dvor

Banatski Dvor

Banatski Dvor is a village in Serbia. It is situated in the Žitište municipality, in the Central Banat District, Vojvodina province...

. On 24 December 2008, final contract between the Government of Serbia and Gazprom were signed. In January 2010. about 20% of remaining shares of NIS were distributed by the Serbian government to the Serbian citizens.

In October 2010, NIS began refurbishing its refinery in Pančevo, at a cost of US$26 million.

Operations

The company is divided into four divisions:

• NIS-Naftagas
• NIS-Petrol, which include: oil refineries in Pančevo
  Pancevo
  Pančevo is a city and municipality located in the southern part of Serbian province of Vojvodina, 15 km northeast from Belgrade. In 2002, the city had a total population of 77,087, while municipality of Pančevo had 127,162 inhabitants. It is the administrative center of the South Banat...
  
   and Novi Sad
  Novi Sad
  Novi Sad is the capital of the northern Serbian province of Vojvodina, and the administrative centre of the South Bačka District. The city is located in the southern part of Pannonian Plain on the Danube river....
  
  , and oil and gas distribution;
• NIS-TNG, which include parts of companies that deals with LPG;
• NIS-Tourism, which include companies resorts, hotels and restaurants.

In 2007 NIS had a profit of approximately 9 billion RSD (US$170 million) and 262 billion RSD (US$5 billion) of revenues. In 2007 NIS contributed to Serbian budget with approximately US$1.2 billion. It has 11,000 employees.

The company owns and operates oil refineries in Pančevo

Pancevo

Pančevo is a city and municipality located in the southern part of Serbian province of Vojvodina, 15 km northeast from Belgrade. In 2002, the city had a total population of 77,087, while municipality of Pančevo had 127,162 inhabitants. It is the administrative center of the South Banat...

 (annual capacity 4.8 million tons of crude oil) and Novi Sad (annual capacity 2.6 million tons of crude oil), and natural gas refinery in Elemir

Elemir

Elemir is a village located in the Zrenjanin municipality, in the Central Banat District of Serbia. It is situated in the province of Vojvodina...

. It owns and operates 500 gas stations across Serbia

Serbia

Serbia , officially the Republic of Serbia , is a landlocked country located at the crossroads of Central and Southeast Europe, covering the southern part of the Carpathian basin and the central part of the Balkans...

, Bosnia and Herzegovina

Bosnia and Herzegovina

Bosnia and Herzegovina , sometimes called Bosnia-Herzegovina or simply Bosnia, is a country in Southern Europe, on the Balkan Peninsula. Bordered by Croatia to the north, west and south, Serbia to the east, and Montenegro to the southeast, Bosnia and Herzegovina is almost landlocked, except for the...

 and Montenegro

Montenegro

Montenegro Montenegrin: Crna Gora Црна Гора , meaning "Black Mountain") is a country located in Southeastern Europe. It has a coast on the Adriatic Sea to the south-west and is bordered by Croatia to the west, Bosnia and Herzegovina to the northwest, Serbia to the northeast and Albania to the...

, as also eight large terminals, 44 warehouses, and aviation fuel pumping facility at Belgrade Nikola Tesla Airport

Belgrade Nikola Tesla Airport

Belgrade Nikola Tesla Airport is Serbia's busiest airport, also known as Surčin , after a nearby Belgrade district.Named after Nikola Tesla, the airport is situated west, of central Belgrade, in the Municipality of Surčin, surrounded by Syrmia's fertile lowlands...

.