The Petroleum Industry of Serbia (NIS) reported a net loss of 0.3 billion dinars for the first nine months of 2025, while its earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to 21.1 billion dinars. Operating cash flow totaled 26.7 billion dinars, the company announced.
NIS stated that cost-saving measures across all business segments and adjustments to new operating conditions had a positive impact on results. The company maintained stability in the domestic oil derivatives market and safeguarded employee welfare despite operating under challenging conditions, primarily due to U.S. Treasury sanctions that took full effect on October 9.
Financial performance was also affected by a 14% drop in global oil prices compared to the same period last year and by losses from HIP-Petrohemija, which recorded a 7.4 billion dinar deficit in January–September due to unfavorable conditions in the petrochemical sector.
During the reporting period, NIS Group’s public revenue contributions amounted to 167.7 billion dinars, while 4.6 billion dinars were allocated for dividend payments to shareholders for 2024.
In operational terms, total oil and gas production reached 837,700 tonnes of oil equivalent, down 2% year-on-year. Crude oil and semi-finished product refining volumes increased by 5% to 2.672 million tonnes. Meanwhile, total sales of petroleum products amounted to 2.421 million tonnes, marking a 10% decline compared to the same period in 2024.
NIS stated that it will continue adjusting its operations and strategic plans to current market conditions and remains committed to being removed from the U.S. SDN sanctions list or obtaining a new license that would allow unrestricted business activities.
