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NIS Outlines Key Priorities for the Year 2024

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“In 2024, our company will continue with the implementation of an ambitious investment program in all business segments, including further synergy with the petrochemical complex. The business plan for 2024, adopted at the NIS Board of Directors meeting, outlines planned investments amounting to 59.7 billion dinars, making it one of the most extensive investment programs since 2009.

The primary priority for NIS in the upcoming year, according to the business plan, is to ensure stable operations and carry out key projects in a highly variable macroeconomic environment. To achieve this goal, NIS’s focuses for the next year will include stable market supply, maintaining a stable level of oil and gas production, preparedness for various macro parameter scenarios, and the implementation of an ambitious investment program.”

Oil and Gas

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“In the field of oil and gas exploration and production, NIS’s focus will be on implementing drilling programs in Serbia and maintaining high efficiency in activating new wells. Additionally, there are plans to commission two small power plants in the Banatsko Miloševo and Srpska Crnja fields with the aim of monetizing the remaining gas reserves.”

Crude oil processing

When it comes to the processing of crude oil and semi-finished products, in addition to the overhaul in the Pančevo Oil Refinery, a series of other projects are planned to further enhance the operation of the company’s processing complex. Additionally, there are plans for the reconstruction of the industrial track in the refinery, implementation of projects to increase the operational efficiency of processing facilities, and further digitization efforts.

Retail network

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The further development and modernization of the retail network are the focus of NIS in the sales sector. This primarily involves the construction of new and the reconstruction of existing company-owned petrol stations, in line with the latest trends in the industry. In addition, NIS will continue to implement digital projects that enhance the consumer experience. Among the capital projects planned in this area for 2024 is the reconstruction of oil depots in Niš and Novi Sad.

Energy transition

The energy transition of the company will also continue, with the main focus of the ‘Energetics’ Block being the further construction of photovoltaic solar power plants at petrol stations and other company facilities. Additionally, projects are planned to enhance energy efficiency, reduce emissions, and utilize CO2. It is important to note that NIS’s planned projects take into account the priority of energy transition in Serbia, and the company plans to implement projects that will, among other things, contribute to achieving the carbon emission reduction goals set by the Paris Agreement.

When it comes to the petrochemical sector, NIS will continue with the modernization of facilities in Petrohemija and preparations for the construction of new capacities for polypropylene production.

Among NIS’s priorities is the ongoing commitment to increasing the safety of employees and everyone else at the company’s locations, aiming for a target of zero – working processes without injuries. In 2024, NIS will remain dedicated to the digitization of the company at all levels.

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