Daily newspaper "Kurir" As of next year, NIS will commence investments in the second phase of modernization of Pancevo Oil Refinery, Russian Minister of Energy, Alexander Novak announced during his visit to Pancevo Oil Refinery. He conducted business operations as a part of NIS, which majority owner is Russian Gazprom Neft, Russian Minister stated that new investments will allow an increase in debt of oil refinement, so that derivatives with even better quality could be produced for both, Serbian and European market. Novak said that NIS has plans to invest EUR 1.5 billion in Serbia, in the next three years and he evaluated that Pancevo Oil Refinery is one the best in Europe, as more than EUR 500 million was invested in it. Apart from Minister Novak, Serbian Minister of Natural Resources and Spatial Planning, Milan Bacevic, CEO of NIS, Kirill Kravchenko and Ambassador of the Russian Federation in Serbia, Alexander Chepurin also visited Pancevo Oil Refinery.
