18-09-09 Serbian oil monopoly NIS, controlled by Russia's Gazprom, and a US company signed a EUR 400 mm deal to modernize an oil refinery to make cleaner fuels.
The investment was one of the conditions of Gazprom's takeover of NIS.

NIS and partner CB&I Lummus will modernize the refinery to greatly increase production of unleaded and cleaner diesel fuels by 2012, the report said.