Naftna Industrija Srbije (NIS) announced its operational results for 2025, revealing a total production of 1.124 million tonnes of oil-and-gas equivalent, which marks a slight decline of approximately 2% compared to the previous year. This figure encompasses the company’s crude oil and natural gas output from its fields in Serbia and associated concessions, as detailed in its fourth-quarter operational report.
In the fourth quarter alone, NIS’s production from domestic Serbian fields amounted to 275,600 tonnes, which increased to 286,500 tonnes when including output from concession areas. The company successfully brought 20 new oil wells into operation during the year, contributing an additional 12,600 tonnes to production through geological and technical enhancements.
On the refining front, NIS processed 3.095 million tonnes of crude oil and intermediate products throughout 2025. Despite the Pančevo refinery ceasing operations in November due to a shortage of crude feedstock linked to broader supply constraints, downstream sales of petroleum products remained a vital component of the company’s business activities.
In light of challenging market conditions and geopolitical factors, NIS continued to invest significantly, allocating RSD 28.1 billion towards development projects that focus on exploration, production, logistics and transport infrastructure, as well as enhancing its refining and energy service segments. The company managed to maintain stable supply levels of refined products in the Serbian market while facing lower export volumes and tighter profit margins.
Financially, NIS recorded a net loss of RSD 5.6 billion for the year, attributed to unfavorable market conditions and decreased sales volumes. Operating cash flow and other financial metrics reflected the prevailing market environment, with an ongoing emphasis on cost management alongside long-term investments in essential oil and gas assets.
These production and refining statistics highlight NIS Group’s position as Serbia’s leading integrated energy company, navigating growth initiatives while adapting to the shifting dynamics of global energy markets and domestic supply challenges.
