December 10 (SeeNews) - Serbian oil and gas company NIS [BEL:NIIS] said on Tuesday its board of directors has approved the business plan for 2014, setting an investment target at the level of the current year.
Next year, every effort will be made to keep the profitability and the key financial indicators of the business at the 2013 level in the face of negative trends in the global and regional markets, NIS said in a statement.
In 2014, NIS expects a slight rise in its key production indicators such as oil and gas output, refining and the sale of petroleum products.
As one of the risk factors going forward, the company considers hydrocarbon price trends.
The bulk of the company’s investments in 2014 will target projects in the field of hydrocarbons exploration and production, as well as the continuation of the upgrade program in the refining division.
The company’s main priority next year will be to continue the program aimed at improving its business efficiency and the development of downstream and upstream business projects in the Balkan region.
NIS (www.nis.rs) 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.