The oil production arm of Russian gas giant Gazprom, Gazprom Neft plans to invest $1.4bn in Serbia by 2025, President Vladimir Putin said during his visit to Serbia, as quoted by Tass. He provided no further details.
So far, Gazprom Neft has invested in Serbia via its Serbian unit, energy firm Naftna Industrija Srbije (NIS). NIS is the main player on the local oil market and is one of its largest exporters.
Gazprom Neft holds 56.15% of the shares in Serbian NIS, a vertically integrated oil and gas company working on the Southeast European market. The Serbian government owns 29.87% while the remaining stake belongs to citizens, current and former employees and other minority shareholders.
Recently, Gazprom Neft is investing in a new deep conversion complex (DCC) involving delayed coking technology at the Pancevo Refinery in northern Serbia.
Construction of the DCC is an investment whose value exceeds €300mn, making it currently the largest Gazprom Neft investment project in Serbia, the Russian company said. It added that the project is a key part of the second phase of a major programme which it has been executing since 2009 to modernise the refining capacity at NIS.
Egypt and Russia have signed a supplementary intergovernmental agreement to push forward the El-Dabaa nuclear power plant project in Egypt, Al Arabiya reported on July 8, citing a statement from ... more
Non-performing loans (NPLs) in central, eastern and south-eastern Europe (CESEE) fell to their lowest levels since the global financial crisis in 2024, but early indicators suggest rising risks ... more
China’s LNG imports have fallen on a year-on-year basis for the eighth consecutive month, Bloomberg reported on June 26 citing data from Kpler. Imports of the super-chilled fuel in the world’s ... more