Article from Serbia EnergySome of this news is repeated from other articles, but I found interesting is his comments about Romania. ---------------------- NIS will also allocate significant funds for further modernization of the Pancevo Oil Refinery. NIS invests 1.4 billion euros in modernization, exploration and production of oil and gas 21. October 21, 2019 / Serbia Energy More than three billion euros have been invested in the development of NIS in the last decade, and further progress of this company will be based on an ambitious investment program in all business segments. On the occasion of the 10th anniversary of Gazprom Neft's business in Serbia, as a majority shareholder of NIS, Vadim Yakovlev, the first deputy director general of the Russian oil giant and chairman of the NIS Board of Directors, told Politika that the domestic oil company will by 2025 invest another 1.4 billion. As a particularly significant project in this area, Jakovlev cited NIS concessions in Romania, which he considered very promising. In addition, the modernization of the NIS retail network, which will invest around EUR 150 million, will continue. By the way, the domestic oil company now operates a network of over 400 gas stations, 90 of which are in the countries of the region - BiH, Bulgaria and Romania. Yakovlev added that in the last 10 years, NIS has significantly improved its financial results, and that the amount of capital investments in 2018 was even 3.6 times higher than the amount of investments in 2009. He also said that the volume of processing and turnover increased more than 40 percent compared to a decade ago. Kiril Tjurdenev, NIS General Manager, stated that the company expanded its business to the field of energy and that 14 small power and thermal power plants were built in Serbia. More than 20 million has been invested in this segment of the business, and NIS is now, in cooperation with Gasprom energoholding, building a thermal power plant (TE-TO) Pancevo, a project worth around 180 million. The facility will produce electricity and heat for the Pancevo Refinery, while some of the electricity will be sent to the domestic distribution system, which will contribute to Serbia's energy stability. Tjurdenev added that NIS will continue to implement significant socially responsible projects in Serbia, which have invested more than EUR 30 million in the last 10 years. NIS's focus in this area will be youth support. Talking about his relationship with Petrohemija, Jakovljev said that NIS is aware of the importance of this company for Serbia and that it is interested in its stable long-term business. He added that a final decision had not yet been made on the possible involvement of NIS in the privatization of Petrohemija, that it would be the subject of further negotiations with Serbian partners and that significant investments in the development of this Pancevo factory would be needed. October 2019. / Srbija Energetika