Serbia: GazpromNeft NIS successfully competes with MOL, OMV in SEE

, News Serbia Energy

Despite the pessimistic forecasts for the oil price, NIS is planning to invest almost a billion euro in the next three years. The most of it will be invested in accumulating the oil-gas reserves and deep processing. Of course there will be investments in spreading the electric power sector and spreading the retail network. That is the plan we have in this moment, said GazpromNeft NIS director general Kiril Kravčenko.

He added that this is a conservative forecast and there is a possibility for the investments to be bigger. The expectations for the past year results are not that great.

-We expect a drop in financial results and net profit higher than 10 billion dinars. We have managed to keep profitability regardless of the significant drop in the oil prices and currency differences that cost us around 10 billion dinars. At the same time compared to projected production indicators, the results will be better in the segment of oil and gas production, processing and retail. NIS managed to achieve good results thanks to the additional program of operational efficiency, which was conducted at all levels in the company. In 2015 EBIDTA will be around 40 billion dinars, while the money flow from business activities will be close to the last year’s flow, at the level of around 40 billion dinars. Based on this and retail indicators, NIS achieved better results than competition, such as MOL, OMV and INA. It is important to say that in 2015 we have realized the investment program in the amount of 30 billion dinars, transmits

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