An extraordinary meeting of NAFTA INDUSTRIJA SRBIJE shareholders took place in Novi Sad today.
The shareholders elected a Board of Directors consisting of the following members:
- Dmitry Malyshev, Advisor to the Chairman of the Management Board of JSC Gazprom Neft;
- Kirill Kravchenko, Deputy CEO for Administration and Vice Chairman of the Management Board of JSC Gazprom Neft;
- Anatoly Cherner, Deputy CEO for Logistics, Refining, and Sales and Vice Chairman of the Management Board of JSC Gazprom Neft;
- Vadim Yakovlev, Chief Financial Officer and Vice Chairman of the Management Board of JSC Gazprom Neft;
- Boris Zilbermints, Deputy CEO for Exploration and Production and Vice Chairman of the Management Board of JSC Gazprom Neft;
- Elena Ilyukhina, Deputy CEO for Legal and Corporate Affairs and Vice Chairman of the Management Board of JSC Gazprom Neft;
- Biserkа Jevtimijević Drinjaković, Counselor of the President of Republic of Serbia;
- Dusan Elezovic, president of the DP Municipality Committee for Vojvodina;
- Dušan Petrovic, Deputy President of the Democratic Party;
- Nikola Martinovic, Special Advisor to the General Manger.
Energy Minister of the Republic of Serbia Petar Skundric was elected Chairman of the General Shareholder Meeting, and Gazprom Neft Management Board Chairman Alexander Dyukov was elected Deputy Chairman. Rotation will be on an annual basis.
In addition, the Meeting of NIS Shareholders resolved to amend the NIS Memorandum of Association.
NAFTA INDUSTRIJA SRBIJE (NIS) is one of the largest vertically integrated oil companies in Central Europe. The company refines oil, sells oil products, and produces hydrocarbons in Serbia and Angola. The total number of NIS employees is 13 900. Production amounts to approx. 1 million tonnes of oil/year. The company’s turnover on 2007 was approx. $5 billion.
NIS owns refineries in Pancevo and Novi Sad with a total capacity of 7.3 million tonnes/year. A liquefied gas plant in Elemir is also part of the company.
The company’s oil service division conducts geophysical exploration, well activities, and hydroprobing. Besides, it provides transportation, maintenance, and construction services.
NIS has its own distribution chain of oil tank farms and 512 gas stations. A leading supplier of oil products in the Serbian market, the company produces about 85% of all domestically consumed oil products. NIS exports motor fuels, benzene, toluene, and road and industrial bitumen to EU countries, Ukraine, Croatia, Montenegro, and Bosnia and Herzegovina.
On February 3, 2009 JSC Gazprom Neft completed the acquisition of 51% of shares in Serbia’s NIS at a price of 400 million euros. The acquisition was made in accordance with the purchase agreement between Gazprom Neft and the Serbian government signed in Moscow on December 24, 2008.
The agreement provides for the reconstruction and upgrade of NIS process facilities by 2012; investment will amount to at least 500 million euros. As part of the upgrade, measures will be taken to improve the quality of oil products so that they meet European standards (Euro-5).