Due to lack of crude oil for refining, which occurred as a consequence of the sanctions imposed by the US Department of the Treasury against the NIS company, the Pančevo Oil Refinery is starting preparations for suspending operations. In the first phase, the plants were introduced into warm circulation, and the entire process is carried out in accordance with the laws of the Republic of Serbia, the company’s internal rules, and the strictest environmental standards, as well as occupational safety and health rules
Activities at the Pančevo Oil Refinery during the warm circulation period will be organized in such a way that the refinery plants are ready to restart as soon as conditions allow, that is, as soon as information about the availability of crude oil is received.
At this moment, the company NIS continues to supply the domestic market with petroleum products without interruption, thanks to previously secured stocks.
The company NIS expresses hope that the regular operation of the Pančevo Oil Refinery will be re-established as soon as possible, as it is important not only for the supply of Serbia but also for regional markets. The Pančevo refinery is one of the most modern in the region, and more than EUR 900 million have been invested in it since 2009. In addition to its significance for the stability of petroleum product supply, the Pančevo Oil Refinery is also crucial for the operation of HIP Petrohemija, which will also begin preparations for suspending operations in the forthcoming period.
NIS reiterates that its business operation is based on strict compliance with the laws of the Republic of Serbia and other countries in which it operates, and that it has not contributed in any way to the introduction of sanctions that jeopardize the company’s work and the social stability of more than 13,500 employees. The company remains committed to efforts to be delisted from the US Treasury’s SDN list as soon as possible, or to obtain a new special license that will enable its uninterrupted business operations, in which it has the strong support of the state authorities of the Republic of Serbia.
