Serbian oil and gas
company NIS [BEL:NIIS]
said on Wednesday its
consolidated net profit
plummeted 70.6% to 5
billion dinars ($46
million/41.6 million
euro) in the first half
of 2015 when the company
had to cope with
exchange rate losses and
a decline in crude oil
prices on the global
market.The sales of
petroleum products fell
3% on the year to 1.46
million t through June,
while oil and gas
production amounted to
795,000 t of oil
equivalent, 1% ahead of
plan, the company said
in a statement.
Earnings before
interest, taxes,
depreciation and
amortization (EBITDA)
amounted to 21 billion
dinars in the review
period.
NIS' share on the
Serbian retail market
grew 2% through June.
Investments came in at
12.5 billion dinars in
the first six months of
the year and mostly
targeted exploration and
production operations.
NIS, 56.15%-owned by
Russia's Gazprom Neft
and 29.9%-owned by the
Serbian state, is one of
the largest vertically
integrated oil and gas
companies in Southeast
Europe. Its main
activities include the
exploration, production
and processing of oil
and gas, as well as the
production and retail of
a wide range of
petroleum products.
Source:
SeeNews
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