NIS reports profit of 5.3bn dinars for first half of 2024

The net profit of NIS in the reporting period was 5.3 billion dinars, with EBITDA reaching 22.8 billion dinars, the NIS Group said in a press release, adding that it paid 118.1 billion dinars in taxes and other public revenues.

It said the Company’s priority is regular market supply with all types of petroleum products during the turnaround of the Pancevo Oil Refinery.

Significant funds were invested in the field of oil and gas exploration and production, and also in continued modernization of the retail network, said the press release.

In the reporting period, the average price of Brent crude was 84.1 USD/barrel, which is five percent higher compared to the average price in the same period last year.

The total oil and gas production volume was 575 thousand of tons oil equivalent, while the volume of refined crude oil and semi-finished product was 1.4 million tons, and the total petroleum product sales volume was 1.65 million tons, the company said.

A new project of the Company’s energy transition was implemented as part of this extensive investment cycle – the Jazak Drinking Water Production Plant, a solar power plant with the total power of 620 kWp was constructed, with the project value of over half a million euros, said the press release.