Biofuels investment made in Serbia

NIS, a subsidiary of Gazprom Neft, has invested RSD 100 million (€874,165) into a biodiesel production project in Serbia.

The investment is part of many activities NIS is involved in at the Pančevo oil refinery. The company believes biodiesel production will start within the next two months and it is expected that the biofuel will be exported into the EU.

As well as a broad range of petroleum products, NIS is also known for its work in the exploration, production and refining of crude oil and natural gas.