Serbia's NIS invests over 13 bln dinars (115 mln euro) in regional retail push in 2012

NIS, 56.5%-owned by Russia's Gazprom Neft, has said it plans to operate a network of at least 100 filling stations across Bulgaria, Romania and Bosnia by the end of 2013 as part of plans to boost its regional retail footprint.

The Serbian company said in a statement it laid this year the groundwork for the future success of its retail business with the redesign of its NIS Petrol budget pump station brand and the kick-off of a modernization and rebranding program that has been implemented at over 200 outlets.

The further development of the company's domestic NIS Petrol network is one of the strategic objectives for 2013 but no less important is boosting retail operations outside of Serbia, including on the premium segment, NIS CEO Kiril Kravchenko said in the statement.

In addition to the NIS Petrol brand, NIS is also managing a project for a region-wide premium retail chain of Gazprom-branded petrol stations and earlier this month launched the network's first outlets in Serbia and Romania.

NIS (www.nis.rs) is one of the largest vertically integrated oil and gas companies in southeastern Europe, engaged in the exploration, production, and refining of oil and gas, as well as in the marketing of petroleum products. The company owns two oil refineries - in Pancevo and Novi Sad, with total refining capacity of 7.3 million tonnes per year, a network of around 350 gas stations under the NIS Petrol brand and oil depots.

NIS operates in several European countries, including Serbia, Hungary, Romania, Bosnia and Herzegovina, Montenegro, Croatia, Bulgaria, and Macedonia, and participates in mining projects in Angola.

(1 euro=113.4619 Serbian dinars)