A new deep refining complex has been launched at the NIS oil refinery in Pančevo by the President of Serbia Aleksandar Vučić and Gazprom Neft CEO Alexander Dyukov. The new complex will enable the plant to increase production levels of motor fuels, as well as commence production of petroleum coke in Serbia for the first time. The construction of this facility is a key project in the second phase of a major modernisation programme at the NIS refining facilities, total investment in which stands at more than €300 million.

Following the launch of the new complex with its delayed coking technology, the refining depth (“conversion rate”) at the Pančevo refinery will increase to 99.2% — matching the level of the world’s top refineries and significantly surpassing the average refining depth of European plants. The complex will also facilitate an increase in annual production volumes of Euro-5 gasoline and diesel fuels by 2% and 38%, respectively, and of LPG by 7%. With the launch of the new deep refining complex, the Pančevo refinery is now set to terminate production of heavy fuel oil (mazut), reducing its overall environmental impact.

The commissioning of this new facility will also see the launch of a new product at the refinery — petroleum coke, a product in high demand among the metallurgy and construction industries, which previously had to be imported into Serbia. Production at the Pančevo refinery will more than cover demand for this product in Serbia, and enable exports to other countries in the Balkan region.

About Pančevo refinery

NIS’ Pančevo refinery is one of the most modern plants in South—East Europe, and a key petroleum-products supplier to the Serbian market. Full-scale modernisation of the plant was launched by Gazprom Neft in 2009. Following the completion of the first phase of this modernisation — involving investment of more than €500 million — the plant transferred to the exclusive production of Euro-5 fuels in 2012, guaranteeing the security of energy supplies for the Republic of Serbia. The second phase of the refinery’s modernisation was completed in 2020, following investment of a further €300 million — the key project here being the launch of a deep refining complex, with delayed coking technology.

About NIS

NIS (Naftna industrija Srbije) is one of the largest vertically integrated energy companies in south-east Europe. Gazprom Neft holds a 56.16 percent interest in NIS, with the Republic of Serbia holding a further 29.87 percent. NIS owns one of the most cutting-edge oil refineries in the region, located in Pančevo, as well as a network of filling stations operating throughout Serbia, Bulgaria, Bosnia and Herzegovina and Romania under the NIS Petrol and GAZPROM brands. In addition to oil production the company is also developing its own electricity production capacity, and is the most significant fuel supplier on the domestic market, as well as exporting petroleum products throughout the markets of the Balkan region.

About Gazprom Neft

Gazprom Neft is a vertically integrated oil company, primarily involved in oil and gas exploration and production, refining, and the production and sale of oil products. The Gazprom Neft’s corporate structure comprises more than 70 production, refining and sales subsidiaries throughout Russia, the CIS, and abroad.
The company’s proved and probable reserves (SPE-PRMS) are estimated at 2.78 billion tonnes of oil equivalent (btoe), making Gazprom Neft one of the top-20 largest oil and gas companies in the world, and one of Russia’s top three largest companies in terms of production and refining volumes. Total production in 2017 reached 89.75 million tonnes of oil equivalent (mtoe), with refining volumes of 40.1 million tonnes.
Gazprom Neft products are exported to more than 50 countries worldwide, and sold throughout the Russian Federation and abroad. The company’s filling station network totals more than 1,850 outlets throughout Russia, the CIS and Europe.