The Board of Directors of NIS has approved annual report of the company for 2013

April 15, 2014

On April 15, the Board of Directors approved the annual report on company performance for 2013 at its meeting in presentia. In addition, the Board of Directors reviewed current status of execution of energy projects of NIS, namely, monetization of natural gas due to construction of cogeneration units at company’s fields, the course of preparation works for CHPP Pancevo construction, company policy in the area of production energy efficiency increase, as well as alternative energy projects. Management of NIS presented to members of the Board of Directors the corporate Commercial policy of the company that determines the principles of company operations in the area of wholesale and retail sales, building up customer relations, as well as execution of loyalty program and flexible price policy. Based on the results of the meeting, the Chairman of the Board mister Vadim Yakovlev stated, “NIS is building its work on the principles of developing mutually beneficial relations with key groups of consumers. Nowadays the company has developed and implemented a whole range of tools that enable to retain existing customers, as well as actively acquire new ones. The results of this work have given NIS the possibility to generate petroleum products sales volume by third compared to last year, under these complicated microeconomic conditions of 2013. Undoubtedly, the improvements of quality of produced petroleum products, as well as introduction of new fuels into company’s product range, have both played a part in the increase of wholesale and retail sales”.