Serbian oil company NIS, controlled by Russian giant Gazprom, announced it plans to expand in Romania, Bulgaria, Hungary and Bosnia, where it has established local subsidiaries. The company wants to triple its oil production and double sales by 2020 in order to become market leader in the region.
NIS posted €21.4m net profit in the first half of this year, compared to €9.6m losses in the same period of 2010, reports Balkans.com.