In March, a planned downtime will be carried in the oil refinery Pancevo, operated by Serbian oil company NIS. During this time the maintenance works worth 4 million euros will be performed.
All works on cleaning, revision and rehabilitation of equipment, as well as investment projects will be performed in accordance with strict environmental standards and safety rules. NIS states that due to these activities, production processes will be stopped in all the most important plants of the refinery, and it is added that the provided stocks guarantee uninterrupted shipment and orderly supply of the market with all types of derivatives during the shutdown of the refinery. The key activities in the refinery will be performed at the S-44501 plant (Klaus) in order to increase the reliability of the plant, and significant investment works are planned at the plant for the production of petroleum components and gases (FC complex), as well as atmospheric distillation.
NIS said that a series of previously agreed technical-technological changes will be implemented in order to increase the energy efficiency of the refinery and improve the work of the processing complex during the summer. Despite the negative trends in 2020, NIS’ earnings before interest, taxes, depreciation and amortization (EBITDA) remained positive at the level of 135 million euros. NIS finished the second half of the year with a net profit of 23 million euros, but, unfortunately, due to the impact the unfavorable market conditions had on it performance in the first half of 2020, the final result of the year was a loss of 65 million euros.