November 6 (SeeNews) - Serbian oil and gas company NIS [BSE:NIIS], a subsidiary of Russia's Gazprom, said on Monday its net profit rose 2.6 times to 20.1 billion dinars ($196.8 million/169.5 million euro) in the first nine months of 2017.
EBITDA expanded by 53% year-on-year to 34.3 billion dinars in the January-September period, the company said in a statement.
NIS produced 1.04 million conditional tonnes of oil and gas in the nine months through September, while the quantities processed at its refining facilities rose by 10% to 2.6 million tonnes, the company noted.
The company invested a total of 16.6 billion dinars in the first nine months of 2017, the CEO of NIS, Kyrill Tyurdenev, said in the statement.
Sales of petroleum products totalled 2.5 million tonnes in the first nine months, up 4% on the year.
The total amount of electricity produced by NIS went up by 13% to 117,967 MWh in the first nine months of this 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=118.563 dinars)
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