The Oil Industry of Serbia (NIS) announced that despite a challenging macroeconomic environment and ongoing US sanctions, it managed to maintain stability on the domestic market during the first half of 2025. However, the company still recorded a loss of 3.6 billion dinars by mid-year.
NIS cited several factors impacting its financial results, including a 15% drop in global oil prices compared to the first half of 2024, increased costs for oil and derivatives supplies, and negative financial results from HIP Petrohemija.
Despite these challenges, NIS preserved a positive EBITDA of 10.2 billion dinars and maintained an operating cash flow of 1.7 billion dinars. The company invested 12.4 billion dinars in capital projects, mainly focused on oil and gas exploration and production.
In the first six months of 2025, NIS’s oil and gas production totaled 556 thousand conditional tons, down 3% from the same period last year. Processing volume increased by 20% to 1.677 million tons, recovering from refinery overhauls at the Pančevo Oil Refinery in 2024. Total turnover of oil derivatives fell by 8% to 1.524 million tons.
NIS also continued developing solar photovoltaic power plants at its facilities as part of its sustainability initiatives.
On the community front, NIS launched a new competition under its “Communities Together” social responsibility program, pledging 144.5 million dinars to support public institutions benefiting children in 13 local municipalities where it operates.
