Business and Technology Cooperation Agreement has been signed by Kirill Tyurdenev, first deputy NIS CEO for Refining, Sales and Distribution, and Dr Thomas Narbeshuber, Vice President of BASF Company for South-East Europe As a region’s leading energy company, NIS shall, pursuant to this strategic cooperation with the world’s chemical major, further improve the quality of oils and lubricants as well as the entire oil products range, and expand the supply of high quality products. This comes as expansion and upswing of a long-standing cooperation of NIS and BASF, whose additives NIS employs to produce oils and lubricants, as well as branded fuel, so as to enhance their quality. Business and Technology Cooperation Agreement has been signed by Kirill Tyurdenev, first deputy NIS CEO for Refining, Sales and Distribution, and Dr Thomas Narbeshuber, Vice President of BASF Company for South-East Europe. “NIS continuously upgrades all its technological processes and develops its production programme with the aim of providing its consumers with high quality products. We have pooled efforts with our long-standing partner, BASF, seeking to push the limit and bring novel solutions to the realm of oil products output technology“, said Kirill Tyurdenev, first deputy NIS CEO for Refining, Sales and Distribution. Agreement defines expansion and upswing of a long-standing cooperation of NIS and BASF, whose additives NIS employs to produce oils and lubricants, as well as branded fuel “Being one of the leading company in the domain of automotive fluids and refinery chemicals, BASF has recognised NIS as a partner having a clear vision about growth and sustainable development, not just in Serbia, but within the region as well. It’s a company which continually invests in technology modernization and quality enhancement of its products. We believe that creating tight partnership bonds between our two companies will allow long-term market benefits and contribute to closer ties between Serbian and German economy”, said Dr Thomas Narbeshuber, Vice President of BASF Company for South-East Europe. Marko Čadež, president of Chamber of Commerce and Infustry of Serbia, has stated that this Agreement represents the good example of partnership between industry leaders from Germany and Serbia, which is in the intereset of the Serbian economy and domestic companies: "This strategic partnership will enable the pooling of resources, knowledge and scientific capacities of both partners in order to improve quality and environmental characteristics of products on the Serbian market", said Marko Čadež. About NIS NIS is a South-East Europe’s leading vertically integrated energy company, with a core business focused on the exploration, extraction, refining, sales and distribution of a wide range of oil products, as well as implementation of energy projects. In Serbia, there are two NIS-owned and operated refining facilities, one in the town of Pancevo and another in the city of Novi Sad. There is also the LPG production plant, as well as a network of refuelling stations supplying fuel to Serbia and neighbouring countries. Its long-term strategy of business operations development beyond Serbia compelled NIS to spread its operations to the entire regional market in Bosnia-Herzegovina, Hungary, Bulgaria and Romania. Russian company Gazprom Neft owns 56.15 % of the share capital of NIS, while 29.87 % of NIS shares are held by the Republic of Serbia. The remaining portion belongs to citizens, employees, former employees and other minor shareholders. Further information at nis.eu. About BASF BASF creates chemistry for a sustainable future. The company combines economic success with environmental protection and social responsibility. The approximately 114,000 employees in the BASF Group work on contributing to the success of customers in nearly all sectors and almost every country in the world. The portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of about €58 billion in 2016. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.
