Naftna Industrija Srbije a.d. Reports Earnings Results for the First Quarter Ended March 31, 2023

Nis ad Novi Sad is a Serbia-based company active in the oil and gas industry. The Company provides its business operations within five segments: Research and Production, involved in exploration and production of oil and gas, including production, infrastructure and operational support, oil and gas reserves management; Oilfield services, providing support in exploration and production in oil and gas upstream activities, such as geophysical services, drilling and overhaul of wells, transportation, machinery maintenance and construction of oil and gas systems; Refining, with oil derivatives production plants in Pancevo and Novi Sad; Sales & Distribution, covering foreign and domestic trade, wholesale of oil derivates and the retail of derivates and liquid petroleum gas; and Others, including generation and sale o electricity and thermal energy. As of December 31, 2012, it was 56.15%-owned by Gazprom neft. On March 1, 2013, the Company acquired a 100% stake in OMV BH doo.