You have 10 free articles left this month. Get your freeBasic subscription now and gain instant access to more.

Serbia's NIS appoints former Russian ambassador as board member

Author Radomir Ralev
Serbia's NIS appoints former Russian ambassador as board member Alexandr Chepurin; By Medija centar Beograd; License: CC BY-SA 3.0

BELGRADE (Serbia), July 30 (SeeNews) - Serbian blue-chip oil and gas company NIS [BEL:NIIS] has appointed former Russian ambassador to Serbia Alexander Chepurin as independent member of its board of directors, it said.

Chepurin's appointment was approved by the NIS board of directors during a meeting on June 26, the company said in an interim financial report for the second quarter of 2019, posted on its website on Monday.

Chepurin was Russian ambassador to Serbia between November 2012 and June 26, 2019.

The company recorded a net profit of 3.2 billion dinars ($30.2 million/27.2 million euro) in the first half of 2019, sharply down from11.5 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 = 117.705 dinars)