Serbia, The third phase of the modernization of the Pancevo Oil Refinery is planned

Published on 9. January 2023., News

The Board of Directors of the Serbian Oil Industry has adopted a new business plan for 2023, which confirms stable operations and the realization of key projects for which 49.1 billion dinars have been secured, which will be invested in the current year.

As stated in the document published on the Belgrade Stock Exchange, the NIS plan envisages very ambitious investments, which will allow this oil company to continue financing key development projects. Most of the money will be allocated for exploration and production of oil and gas, they point out. In the area of oil processing, the priority will be the continuation of the preparation of the third phase of the modernization of the Pancevo Oil Refinery, i.e. activities on the reconstruction of the catalytic cracking plant and the construction of a new plant for high-octane gasoline components.

The modernization and development of the retail network continues. Thus, during this year, nine gas stations will be modernized and built, but the fuel storage will also be reconstructed.

NIS continues the further production of electricity and begins the construction of photovoltaic power plants at NIS locations.

For NIS, synergy with Petrochemistry and the implementation of projects to strengthen energy efficiency, as well as further digitization of operations, remain priorities, Politika reports.

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