Serbian oil company NIS reported a €197 million net profit for the first nine months of 2026, supported by higher crude prices, better refining margins and tighter cost control.
- Net profit reached €197 million, with EBITDA at €510 million.
- Bank debt fell to €357.4 million from €539.5 million a year earlier.
- Brent crude averaged about $94 per barrel, up from $70.9 a year earlier.
- Pančevo refinery throughput rose to around 13,000 tonnes per day.
- Solar generation reached 12.4 GWh, roughly three times the level of a year earlier.
Serbian oil company NIS (Naftna industrija Srbije) recorded a net profit of €197 million in the first nine months of 2026. The company attributed the result to higher crude prices, stronger refining margins and tighter control of operating costs.
EBITDA, a measure of earnings before interest, taxes, depreciation and amortization, reached €510 million. Bank debt fell to €357.4 million, down from €539.5 million a year earlier.
Oil prices and refining
Brent crude, the international benchmark, averaged around $94 per barrel over the nine-month period, compared with $70.9 per barrel a year earlier. Lower-cost inventories also helped refining profitability.
NIS raised throughput at its Pančevo refinery to around 13,000 tonnes per day, as it sought to keep domestic fuel supply reliable. The refinery processed 2.6 million tonnes of crude and intermediate products, while sales of petroleum products totaled 2.4 million tonnes.
Investment and production
Capital expenditure reached €163.5 million, with much of it going to oil and gas exploration and production. Domestic upstream operations produced 834,000 tonnes of oil and gas equivalent.
Among the projects completed in the period was a €32.3 million reconstruction of railway infrastructure at the Pančevo refinery. NIS also began a major overhaul at HIP Petrohemija, a petrochemical company.
The company's solar installations generated 12.4 GWh between January and September, roughly three times the level recorded a year earlier.
Frequently asked questions
How much net profit did NIS report for the first nine months of 2026?
NIS reported a net profit of €197 million for the first nine months of 2026. The company attributed the result to higher crude prices, stronger refining margins and tighter control of operating costs.
How much did NIS reduce its bank debt?
NIS's bank debt fell to €357.4 million, down from €539.5 million a year earlier. This represents a significant reduction in its borrowing.
Why did the Pančevo refinery increase its throughput?
NIS raised throughput at the Pančevo refinery to around 13,000 tonnes per day to keep domestic fuel supply reliable. The refinery processed 2.6 million tonnes of crude and intermediate products in the period.
How much did NIS's solar generation grow?
The company's solar installations generated 12.4 GWh between January and September, roughly three times the level recorded a year earlier.
