In 2025, the NIS Group managed to maintain stable domestic petroleum supply and uphold employee social stability, despite facing extremely challenging business conditions. Operations were significantly affected by US Treasury sanctions, which, along with other factors, influenced the company’s financial and operational performance.
The group also contended with lower oil prices, with the average Brent price at $69.1 per barrel, down 14% from 2024. Additional challenges included costly oil inventories, asset impairments in Bulgaria and Romania, and the performance of HIP-Petrohemija, which posted a loss of €87.5 million in 2025.
Despite these pressures, NIS maintained a positive EBITDA of €189.1 million and invested €239.4 million in development projects across exploration, production, and the expansion of its retail network in Serbia, as well as a program to construct solar power plants at company facilities. Taxes and public revenues totaled €1.76 billion, while €39.1 million (gross) was allocated for 2024 dividends. Bank indebtedness was reduced by 29% compared to 2024, standing at €396.3 million at year-end. Nevertheless, the company recorded a net loss of €47.7 million in 2025.
On the operational side, NIS produced 1.124 million tons of oil and gas equivalent, processed 3.095 million tons of crude oil and intermediate products, and sold 3.023 million tons of petroleum products.
