The NIS has the only oil refinery in Serbia and supplies almost 80% of gasoline and diesel fuel in the country.
The Serbian oil company, the majority of shares which belong to the Russian Gazprom, has actually lost the opportunity to provide oil to the Serbia market due to US penalties. NIS is one of the last Russian oil assets in Europe. Reuters reported it.
The company is important for Serbia’s energy safety, as it has the only oil refinery in Serbia.
It is difficult for other companies to work by avoiding the NIS, as the dominant position in the Serbian market is complicated by logistics restrictions on a country without access to the sea.
The NIS provides about 80% of gasoline and diesel fuel in Serbia and over 90% of aviation fuel and gasoline.
The US Department of Foreign Asset Control was included in the NIS ad Novi Sad list on January 10, which provides Gazprom within 45 days for investments to come out, but then expanded this period along with the next 30-day postponement.
However, the company is already experiencing difficulties: President Alexander Vuchich warns that Serbia may lose access to oil imports.
NIS oil imports through the Croatian Port of Omishal, where 80% of the company’s oil enters the company through the Yaranah pipeline, this year average is about 28,000 barrels per day, according to the global data supplier and Kpler in real time.
Remember that according to the results of 2024, Russian company Gazprom recorded net losses for 1.076 trillion rubles (approximately $ 12.89 billion) according to Russian accounting standards
Gas Blackmail Failed: Gazprom experiences losses in the record
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.