Naftna Industrija Srbije (NIS), the Serbian subsidiary of Russian oil company Gazprom Neft, is expanding its business beyond the home country in line with the company’s aggressive growth strategy in the Balkans. Last week, NIS opened its first retail station in Bosnia and Herzegovina, almost a month after agreeing to buy retail assets in the Balkan state from a subsidiary of Austria’s OMV. Under the plan, NIS would supply fuel to the stations from its recently upgraded Pancevo refinery (IOD Dec.3’12).
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