Nis Petrol, the company that manages Gazprom's gas distribution network in Romania, failed to make profit in 2016, recording a loss of EUR 4.5 million last year, reports local Economica.net.

The company has been on a loss since entering Romania at end-2012.

Nis Petrol is the local subsidiary of the Serbian firm Nis, which is owned by the Russian giant Gazprom. In 2015, Gazprom recorded a loss of EUR 7.3 million in Romania.

Nis Petrol’s turnover increased by 29% last year, to EUR 48.2 million, compared to EUR 37.2 million in 2015. The Nis Petrol gas distribution network in Romania currently includes 18 fuel distribution stations, most of which are located in the Transylvanian area.

After the first three months of this year, NIS reached a 1% market share of the Romanian fuel market.

editor@romania-insider.com