Pančevo startup
In a separate Jan. 19 release, NIS said start-up activities at the Pancevo oil refinery were under way. NIS contracted the import of the first quantities of crude oil via the Adriatic Pipeline (JANAF) and said the start-up work “will enable the re-establishment of the commercial operation of the production facilities,” with the first delivery of oil derivatives expected on Jan. 27.
Operations at the refinery had been suspended early December 2025 due to a shortage of crude oil for refining, caused by sanctions imposed on NIS by the US Department of the Treasury.
Work will continue throughout February, the company said, “bearing in mind the imported quantities of crude oil, as well as crude oil produced in domestic oil fields,” and that further work “will be coordinated with decisions on enabling the company’s operational activities.”
While production was suspended at the refinery, overhaul activities were carried out, including the replacement of the catalyst on the DHT reactor and the overhaul of the S-4700 plant, the company said.
The Pancevo refinery is also crucial for the operation of HIP-Petrohemija, the restart of which depends on the availability of raw materials for processing, as well as long-term decisions related to enabling the performance of operational activities of NIS, it continued.
The OFAC issued a special license Dec. 31, 2025, which allows the company to carry out operational activities ending on Jan. 23, 2026.