Russia's Gazprom has acquired a 6.2% equity stake in Serbian blue-chip oil & gas company NIS (Naftna Industrija Srbije), the company said on May 11.

Gazprom has acquired a total of 10 035 687 NIS shares through a block transaction on May 6, NIS said in a filing with the Belgrade Stock Exchange.

Gazprom Neft, a subsidiary of the Russian energy giant, reduced its stake in NIS to 50% from 56.2% by selling 10 035 687 shares on May 6, NIS said in a separate filing.

Currently, the Serbian government owns a 29.9% stake in the capital of NIS, while other minority shareholders control a 14% stake among themselves.

In 2009, Gazprom Neft purchased a 51% stake in NIS from the Serbian government.

The company increased its shareholding interest to 56.2% in 2010.

Over the past 10 years after Gazprom Neft acquired a controlling stake in NIS, more than €3 billion have been invested in the development of the Serbian asset.

In 2021, the company´s Pancevo oil refinery achieved a record volume of refined crude oil and semi-finished products of 3.9 million tonnes.

Capacity at the refinery allows it not only to meet all local demand in full, but also to export fuel to countries throughout the Balkans region

NIS is one of the largest vertically integrated oil & gas companies in Southeast Europe.

Its main activities include the exploration, production and processing of oil & gas, as well as the production and retail trade with a wide range of petroleum products.

Author: Radomir Ralev