NIS: Energy Transition In The Oil Industry

Towards A Greener Future

Since the adoption of the Paris Agreement in 2015, every responsible company has included environmental protection and contributing to slowing climate change among its priorities. Notions like energy transition and decarbonisation have become an indispensable part of every responsible business

This is particularly true for the energy industry, which is very intensive and, as such, subject to additional public pressure to reduce greenhouse gas emissions. This industry is also in focus because of the impact on climate in the entire process – from production, through the refining of raw materials, all the way to final consumption.

Although it is hugely important that the public is increasingly discussing environmental protection, what happens in practice, i.e., how companies implement the set goals, is even more important. According to NIS, as Serbia’s largest domestic oil company, environmental protection implies daily dedicated work and significant investments, with the application of the best available technologies. That’s why NIS has, since 2009, invested more than 900 million euros in environmental projects and projects that have an indirect positive impact on environmental protection.

Thanks to these investments, the company has reduced emissions of pollutants into the air by as much as 90 per cent over the last 10 years. Numerous projects have been implemented to achieve this goal, primarily in the Pančevo Oil Refinery (RNP), which is the first energy facility in Serbia to receive an integrated pollution prevention and control (IPPC) permit, confirming that all production processes are aligned with the highest domestic and European environmental standards. In addition, NIS has built mini power plants in oil and gas fields in which the associated gas that was previously burned on the flare is now used to produce electricity and heating energy. Operations were launched in 2022 at the CCPP Pančevo, the first combined gassteam power plant in Serbia, designed for the combined production of electricity and heat based on natural gas, as a more environmentally friendly fuel. This project included investments of more than 180 million euros and the electricity it generates is added to the domestic electricity system, thus contributing to the security of supply for domestic consumers.

Last year’s report was published under the slogan “Our Sustainable Community”, and NIS states that operations harmonised with the UN Sustainable Development Goals and ESG principles will be a priority for the company moving forward

By implementing its energy transition, NIS has also taken significant steps when it comes to renewable energy sources. NIS has installed solar panels at 15 filling stations in Serbia, with these panels used primarily to produce energy that is used by the company itself, thereby saving almost 600 MWh per year. Moreover, an annual reduction in carbon dioxide emissions of more than 600 tonnes is also achieved in this way. NIS also pays great attention to energy efficiency, with the company having achieved an overall increase in energy efficiency of 33 per cent between 2012 and 2022.

At NIS they say that they regularly report, through the Sustainable Development Report, on their efforts aimed at contributing to the protection of the environment. The company recently published its 2022 Report, marking the 13th consecutive report to be verified by an independent audit firm. NIS proudly highlights that it is a pioneer of the domestic market when it comes to verified reporting in accordance with the standards of a leading world organisation in the field of sustainable business – the Global Reporting Initiative (GRI).

Last year’s report was published under the slogan “Our Sustainable Community”, and NIS states that operations harmonised with the UN Sustainable Development Goals and ESG principles will be a priority for the company moving forward.

Nicolas Marquier, Regional Manager for the Western Balkans at the International Finance Corporation (IFC)

Financing the Future

IFC, the largest global development institution, has provided almost $1 billion in financing to Serbia’s private sector over the past six years IFC, as a...

Dr Ivan Todorović, Todorović Law Firm

Dedicated Advisors and Tenacious Litigators

The Todorović Law Firm has existed for more than 30 years and throughout that time has demonstrated its unwavering dedication to continuously advancing at...

Marija Stojiljković, Founder, Royal Nanny

Children Deserve the Best Nannies

Royal Nanny offers a wide range of childcare services, primarily through mediating between professional nannies and families, providing responsible, meticulous, trained and caring individuals Starting...

Petar Miljković, CEO, 14. Oktobar d.o.o.

Employees are the Company’s Real Strength

This former Kruševac giant, which has come a long way over the course of 100 years of operations, developing from a construction machinery factory...

Serbia’s Gaming Industry Sees Significant Growth and Employment Surge in 2023

In 2023, Serbia's gaming industry earned more than 175 million euros, marking a 17 percent increase from 2022, and...

Maserati’s Balkan Expansion: New Showroom Opens in Belgrade

Delta Auto Group has unveiled an exclusive Maserati showroom in Belgrade, setting new luxury benchmarks in line with the...

Peter Pellegrini Wins Slovak Presidential Election

Peter Pellegrini, the candidate from the ruling coalition, won the second round of the presidential elections in Slovakia, securing...

Strategic Energy Partnership Established Between Serbia and France

The Serbian Government adopted a Memorandum of Understanding between the Government of Serbia and French Electric Power Company (EDF),...

Serbia-France Innovation Forum Begins: Innovate for the Planet! Play Green!

At the Serbia-France Innovation Forum titled 'Innovate for the Planet, Play Green', which commenced at the Palace Serbia, French...