• Main page
  • Newsroom
  • News
  • President of Serbia Aleksandar Vučić and Gazprom Neft CEO Alexander Dyukov launch new complex at the NIS refinery

President of Serbia Aleksandar Vučić and Gazprom Neft CEO Alexander Dyukov launch new complex at the NIS refinery

Press-release Technology Efficiency

A new deep refining complex has been launched at the NIS oil refinery in Pančevo by the President of Serbia Aleksandar Vučić and Gazprom Neft CEO Alexander Dyukov. The new complex will enable the plant to increase production levels of motor fuels, as well as commence production of petroleum coke in Serbia for the first time. The construction of this facility is a key project in the second phase of a major modernisation programme at the NIS refining facilities, total investment in which stands at more than €300 million.

Following the launch of the new complex with its delayed coking technology, the refining depth (“conversion rate”) at the Pančevo refinery will increase to 99.2% — matching the level of the world’s top refineries and significantly surpassing the average refining depth of European plants. The complex will also facilitate an increase in annual production volumes of Euro-5 gasoline and diesel fuels by 2% and 38%, respectively, and of LPG by 7%. With the launch of the new deep refining complex, the Pančevo refinery is now set to terminate production of heavy fuel oil (mazut), reducing its overall environmental impact.

The commissioning of this new facility will also see the launch of a new product at the refinery — petroleum coke, a product in high demand among the metallurgy and construction industries, which previously had to be imported into Serbia. Production at the Pančevo refinery will more than cover demand for this product in Serbia, and enable exports to other countries in the Balkan region.

“This is an important day for Serbia and our relationship with Russia, as well as a testament to our effective joint work. Today we have received one of the most advanced refineries in the region. The new facility will help increase the refining depth and fuel production, and further strengthen NIS’ market position. Our collaboration does not stop at this as we plan to further develop it in the years to come.”
Aleksandar Vučić
Aleksandar Vučić President of Serbia
«The deep refining complex is a key project in the full-scale modernisation programme at the Pančevo refinery, a programme that has already brought the plant’s operating standards up to the level of Europe’s top operators. As a result of the successful cooperation between Gazprom Neft and the Serbian government, NIS is now one of the undisputed leaders in the Balkan region’s energy market — accounting for over 13% of the country’s budgetary revenues and providing more than 11,000 jobs. In spite of the challenging market environment, NIS continues to develop across each business segment — exploration and production, refining, and the retail filling-station network, with a particular focus on maintaining high safety and environmental standards in our production processes».
Alexander Dyukov
Alexander Dyukov CEO and Chairman of the Management Board, Gazprom Neft
Notes for editors

NIS (Naftna industrija Srbije) is one of the largest vertically integrated energy companies in south-east Europe. Gazprom Neft holds a 56.16 percent interest in NIS, with the Republic of Serbia holding a further 29.87 percent. NIS owns one of the most cutting-edge oil refineries in the region, located in Pančevo, as well as a network of filling stations operating throughout Serbia, Bulgaria, Bosnia and Herzegovina and Romania under the NIS Petrol and GAZPROM brands. In addition to oil production the company is also developing its own electricity production capacity, and is the most significant fuel supplier on the domestic market, as well as exporting petroleum products throughout the markets of the Balkan region.

NIS’ Pančevo refinery is one of the most modern plants in South—East Europe, and a key petroleum-products supplier to the Serbian market. Full-scale modernisation of the plant was launched by Gazprom Neft in 2009. Following the completion of the first phase of this modernisation — involving investment of more than €500 million — the plant transferred to the exclusive production of Euro-5 fuels in 2012, guaranteeing the security of energy supplies for the Republic of Serbia. The second phase of the refinery’s modernisation was completed in 2020, following investment of a further €300 million — the key project here being the launch of a deep refining complex, with delayed coking technology.