Focuses of NIS in 2024

In 2024, our company will continue implementing an ambitious investment program across all business segments, including fostering further synergy with the petrochemical complex. The 2024 Business Plan, adopted at the NIS Board of Directors meeting, outlines investments totalling RSD 59.7 billion for the following year. This represents one of the most extensive investment programs since 2009.

The main priority for NIS in the year ahead, as outlined in the Business Plan, is to ensure stable operations and the successful realization of key projects in a rapidly changing macroeconomic environment. To that end, in the next year NIS will focus on ensuring a stable supply to the market, maintaining a stable level of oil and gas production, preparing for various scenarios of macro parameters, and implementing an ambitious investment program.

In the field of oil and gas exploration and production, NIS will focus on implementing the drilling program in Serbia and maintaining the high efficiency of activating new wells. It is also planned to commission two small power plants in the Banatsko Miloševo and Srpska Crnja fields with the aim of monetizing the remaining gas reserves.

The area of refining of crude oil and semi-finished products, in addition to the overhaul in the Pančevo Oil Refinery, also comprises a number of other projects that are planned in order to further enhance the efficiency of the company’s refining complex. Additionally, there are plans for the reconstruction of the industrial track in the Refinery, the implementation of projects aimed at increasing the operational efficiency of the processing plants, and for implementation of further digitalization.

In the area of sales and distribution, the focus of NIS is on the further development and modernization of the retail network. This primarily involves the construction of new and the reconstruction of the company’s existing gas stations, in accordance with the latest trends in the field. In addition, NIS will continue implementing digital projects that will improve the experience of our consumers. Among the capital projects planned for this area in 2024, the reconstruction of petroleum batching plants in Niš and Novi Sad is also included.

The company will also continue its energy transition, with the main focus of the Energy Block being the further construction of photovoltaic solar power plants at gas stations and other company facilities. Additionally, projects are planned to improve energy efficiency and reduce CO2 emissions and utilization. It is important to note that the planned projects of NIS take into account the priority of the energy transition in Serbia.Therefore, the company plans to implement projects that, among other things, will help achieve the goals of reducing carbon emissions in line with the Paris Agreement.

When it comes to the petrochemical sector, NIS will continue the modernization of the plants in Petrohemija and make preparations for the construction of new capacities for polypropylene production.

Among NIS’s priorities is the ongoing effort to increase the occupational health and safety of employees and everyone else at the company’s sites, with the ultimate goal of achieving injury-free work processes. In 2024, NIS will remain committed to the digitalization of the company at all levels.