A new, automatic compression system has been put into operation at Novi Sad Refinery to allow for the reduction of electricity costs by 85 percent with the annual savings expected to reach RSD 3.7 million, the Petroleum Industry of Serbia (NIS) said in a release today.
Replacement of the old compression system at Novi Sad Refinery is part of a program aiming to increase energy efficiency. NIS also plans on taking other measures to improve profitability.
NIS invested RSD 4.1 billion in the improvement of production efficiency in 2011 and 2012 with 680 million dinars of that amount spent on energy efficiency improvement.
The volume of these investments in the period 2013-2015 will reach RSD 12.8 billion, the release reads.