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NIS Doubling Fuel Exports

BELGRADE — Naftna Industrija Srbije, a Serbian oil company controlled by Gazprom Neft, expects to double foreign sales of jet fuel by 2020, following upgrades at its Pancevo refinery.

The exports are seen rising to more than 20,000 tons, mainly to neighboring Romania and Hungary, with the possible addition of Bulgaria as a new market, Aleksandar Medvedev, a NIS director of foreign sales, said Tuesday. NIS, the only refiner in Serbia, already covers more than 90 percent of the Serbian market of more than 70,000 tons of jet fuel a year, he said.

"We don't expect a strong growth of the Serbian market, but there will be solid demand in the region," said Milan Nikic, NIS' chief for jet fuel sales.

(Bloomberg)

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