The Serbian Oil Industry (NIS) said on Monday that it’s profits in the first half of 2019 stood at 3.2 billion Dinars (1 Euro – 118 Dinars), adding that it paid 79.8 billion Dinars in taxes and other dues.

The NIS reported net profits of 3.1 billion Dinars in the second quarter of 2019 or 19 times more than in the first quarter.

The press release said that the company is continuing its modernization and the implementation of strategic projects with investments of 18.4 billion Dinars or seven percent more than in the same period a year earlier.