NIS AD engages in the provision of oil and gas exploration. Its activities include production and refining, sales and distribution of a range of petroleum products as well as the implementation of energy projects. It operates through the following segments: Upstream and Downstream. The Upstream segment refers to the exploration and production, development and production of crude oil and natural gas and oil field services. The Downstream segment pertain to the refining and marketing processes crude oil into refined products and purchases, sells and transport crude and refined petroleum products. The company was founded on February 10, 1949 and is headquartered in Novi Sad, Serbia.