NIS Q1 Net Profit Up 18 %

Posted by Joseph R. Fonseca
Tuesday, April 22, 2014

 

Serbian oil company NIS , majority owned by Gazprom Neft, reported an 18 percent rise in net profit in the first quarter of 2014 on higher sales and improved production efficiency.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 15.5 billion dinars from 8.3 billion in the same period last year, NIS said in a statement on Tuesday. Net profit reached 8.6 billion dinars compared with 7.3 billion in the first quarter of 2013.

NIS is Serbia's second largest exporter and a major contributor to the Balkan country's budget.

NIS produces around 1.6 million tonnes of oil equivalent (mtoe) from fields inSerbia and is engaged in oil exploration in neighbouring Bosnia, Hungary andRomania. (Reporting by Ivana Sekularac. Editing by Jane Merriman)

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

USS Montpelier Modernization Contract for General Dynamics

The U.S. Navy has awarded General Dynamics Electric Boat a $46.4 million contract for planning efforts in support of maintenance and modernization work on USS Montpelier,

Pentair Opens Aquaculture Center of Excellence

Mindful that fish farming has the potential to help meet an expanding  population's need for protein in a world with increasing water constraints, Pentair announced

Scorpio Tankers' Buyback Plan, Newbuild Delivery

Scorpio Tankers Inc. announced today (i) a new $250 million Securities Buyback Program, (ii) that it has recently taken delivery of an MR product tanker and

Energy

Scorpio Tankers' Buyback Plan, Newbuild Delivery

Scorpio Tankers Inc. announced today (i) a new $250 million Securities Buyback Program, (ii) that it has recently taken delivery of an MR product tanker and

Kongsberg Contracted to Support FLNG Conversion

Kongsberg Maritime secures position in the LNG market with electrical and automation contract for Golar Hilli FLNG   Keppel Shipyard in Singapore and Black & Veatch in the U.

Statoil Awarded Licenses Offshore Nicaragua

Statoil informs it was today awarded four licenses offshore the Nicaraguan Pacific, covering an area of about 16,000 km2 in the largely unexplored Sandino Basin.

News

USS Montpelier Modernization Contract for General Dynamics

The U.S. Navy has awarded General Dynamics Electric Boat a $46.4 million contract for planning efforts in support of maintenance and modernization work on USS Montpelier,

Pentair Opens Aquaculture Center of Excellence

Mindful that fish farming has the potential to help meet an expanding  population's need for protein in a world with increasing water constraints, Pentair announced

Scorpio Tankers' Buyback Plan, Newbuild Delivery

Scorpio Tankers Inc. announced today (i) a new $250 million Securities Buyback Program, (ii) that it has recently taken delivery of an MR product tanker and

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1686 sec (6 req/sec)