May 30 (SeeNews) - Russia's Gazprom Neft said on Wednesday its Serbian subsidiary NIS [BEL:NIIS] produced 230,000 tonnes of crude oil, condensate and natural gas liquids (NGLs) in the first quarter of 2018, down 4.2% on the year.
The natural gas production of NIS declined by 7.7% year-on-year to 120 million cubic metres in January-March, Gazprom Neft said in an interim financial report.
The refining throughput of NIS amounted to 700,000 tonnes in the first quarter, flat year-on-year.
Gazprom Neft also said that NIS obtained exploration and production licences for the Banatsko Miloshevo natural gas block in Serbia in the first quarter of 2018.
NIS said in April its net profit fell to 3.7 billion dinars ($38 million/31.3 million euro) in the first quarter of 2018 from 5.4 billion dinars in the like period of last year.
NIS, 56.15%-owned by Gazprom, is one of the largest vertically integrated oil and gas companies in Southeast Europe. Its main activities include the exploration, production and processing of oil and gas, as well as the production and retail trade with a wide range of petroleum products. Serbia's government owns a 29.87% stake in NIS.
(1 euro = 118.206 dinars)
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