The Petroleum Industry of Serbia (NIS) is investing EUR 467m in the modernization and construction of fuel production units in the Oil Refinery Pancevo. The investment includes EUR 397m for a hydrocracking and hydroprocessing complex and EUR 70m for a hydrogen production unit. The project is expected to be completed in the third quarter of 2012 and will increase the refinery's capacity to produce 4.8 million tonnes of refined oil per year. The modernization will also enable NIS to produce motor gasoline and euro-diesel 5 by European ecological standards and reduce pollution caused by oil refining.
Modernization and construction of fuel production units started in Oil Refinery Pancevo, in which EUR 467m will be invested by the Petroleum Industry of Serbia (NIS).
Serbian Minister of Energy Petar Škundrić said on that occasion that EUR 397m would be invested in hydrocracking and hydroprocessing complex, while EUR 70m would be spent on the hydrogen production unit. The unit should be finished in the third quarter of 2012
As Škundrić pointed out, upon the modernization of the refinery in Pancevo, the amount of refined oil in Pancevo will reach 4.8 million tonnes per year and NIS will become fully capable of producing motor gasoline and euro-diesel 5 by European ecological standards.
Škundrić also said that the contemporary filtering system in the new unit in Oil Refinery in Pancevo would enable reduction of pollution caused by oil refining.