History

The predecessor company of NIS was the Company for Crude Oil Exploration and Production, incorporated in 1949 by the Resolution of the Government of the Federative National Republic of Yugoslavia, and which was named Naftagas in 1953.

Naftagas was later transformed into a company incorporating refineries in Pančevo and Novi Sad, as well as Pančevo Azotara (a fertilizer plant). By the end of 1973 Naftagas integrated the retail companies Jugopetrol – Belgrade and Jugopetrol – Novi Sad (transformed into Naftagas promet i.e. NAP).

NIS in its present form, was established in 1991 as a public company for exploration, production, refining and trade in crude oil, petroleum products and natural gas integrating the following companies: Naftagas, Gas, Energogas, Pančevo Oil Refinery, Belgrade Oil Refinery and Krusevac Lubricant Factory(FAM). This Company gave rise to three other companies: NIS, Srbijagas, and Transnafta.

In October 2005, NIS was transformed into a joint stock company. In January 2010, 19.08% of shares were owned by Serbia and its citizens, and current and former employees of NIS. In June 2010 NIS was transformed into an open joint stock company and listed on the Belgrade Stock Exchange August 30, 2010.