economy
February 4, 2026
Упркос санкцијама, НИС сачувао стабилно снабдевање горивом
„Нафтна индустрија Србије” која последњих годину дана ради само када добије зелено светло америчког ОФАК-а будући да је по Америчким санкцијама успео и у најтежим околностима да очува уредно снабдевање тржишта дериватима и социјалну стабилност запослених. Ме ђутим, комплексне околности, пре свега санкције, имале су значајан утицај на финансијске и и оперативне резултата ове нафтне компаније, наводи се у извештају о пословању НИС-а за 2025. годину.
TL;DR
- NIS operated under US OFAC approval for the past year, managing to maintain supply and employee stability despite sanctions.
- Financial and operational results were negatively affected by sanctions, lower oil prices (average $69.1/barrel, 14% down from 2024), and inventory write-downs in Bulgaria and Romania.
- The acquisition of "Petrohemija" deepened losses from 7.7 billion dinars to 10.3 billion dinars in 2025.
- EBITDA halved to 22.2 billion dinars, with a slight positive EBITDA in Q4 and a net loss of 5.3 billion dinars for the quarter, leading to a full-year loss of 5.6 billion dinars.
- Refinery processing fell to 39% and natural turnover to 57% in Q4 compared to the previous year.
- NIS's market share in motor fuels decreased to 63% overall and 46% in retail.
- Despite the losses, liquidity remained strong with a free cash flow (FCF) of 12.5 billion dinars, and debt to banks decreased to 396 million euros.
- Capital expenditures were nearly halved to 28.1 billion dinars, mainly in exploration and production.
- The company's recovery will depend on the resolution of its Russian ownership status and future OFAC decisions regarding operating licenses.
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