NIS

1949–1991: Naftagas

The precursor of today's NIS was the "Oil Exploration and Production Company" with headquarters in Zrenjanin, founded in 1949 by the decision of the government of the Federal People's Republic of Yugoslavia (FPRY). The "Company for Oil Exploration and Production Naftagas" was established in 1953 pursuant to the decision of the government of FPRY, when management was relocated to Novi Sad. During the 1950s, first petrol stations and warehouses in this area were opened. Oil refineries in Pančevo and Novi Sad were put into operation in 1968. At the end of 1973, sales and distribution organizations "Jugopetrol-Beograd" and "Jugopetrol-Novi Sad" were integrated into the company.

1991–2008: Naftna Industrija Srbije

Naftna industrija Srbije (NIS), in its present form, was established in 1991 as a public company for the exploration, production, refining and sales and distribution of oil, petroleum products and natural gas. The company gave rise to three present-day companies: NIS, Srbijagas, and "Transnafta". In October 2005, NIS was transformed into a joint-stock company, appointing its own Shareholders’ Assembly, Board of Directors and other managing bodies.

2008–2022

In 2008, the Russian company Gazprom Neft became the majority shareholder, pursuant to the "Sales and Purchase Agreement" between the Republic of Serbia and the Russian Federation on the purchase of 51% of shares for €400 million and €550 million in investments until 2012. Adjoining contracts signed with Gazprom were about inclusion of Serbia in the South Stream gas-pipeline project and the construction of an underground gas storage facility in Banatski Dvor. On 24 December 2008, final contract between the Government of Serbia and Gazprom were signed.