During the first six months of 2021, NIS focused on increasing operating efficiency, enhancing financial discipline, and investing into key development projects, resulting in a significant improvement of financial results relative to the same period one year previously
The oil company also benefited from a favourable macroeconomic environment, in particular an uptick in economic activity and a recovery of demand for petroleum products. Oil prices rose, with Brent crude standing at $64.9 per barrel, 63 percent more than in the first half of 2020.
NIS’s net profit for the first six months of 2021 amounted RSD 6.08 billion, significantly higher than in 2020, when a loss of RSD 10.2 billion was recorded.
The company has also continued contributing to the local community: its corporate social responsibility programme, ‘Together for the Community’, resulted in agreements with 12 local authorities throughout Serbia where NIS aims to invest RSD 107.5 million dinars into environmental initiatives.