HIP-Petrohemija

HIP–Petrohemija (Serbian: ХИП-Петрохемија) is a Serbian petrochemical company, with the headquarters in Pančevo, Serbia.[3]

HIP-Petrohemija
Native name
ХИП-Петрохемија
Typed.o.o.
Founded8 July 1975 (1975-07-08)
First founded 1968
Headquarters
Spoljnostarčevačka 82, Pančevo
,
Serbia
Key people
Velimir Unković (General director)
ProductsPetrochemicals
RevenueDecrease €248.16 million (2019)[1]
Decrease (€19.05 million) (2019)[1]
Total assetsDecrease €223.47 million (2019)[2]
Total equityDecrease €192.21 million (2019)[2]
OwnerGovernment of Serbia (10.00%)
NIS (90.00%)
Number of employees
1,112 (June 30, 2023)
Websitewww.hip-petrohemija.com

The company owns petrochemical complexes located in Pančevo, Elemir and Crepaja.[4] It specializes in producing HDPE, LDPE and other petrochemical products with an annual production capacity of 700,000 tonnes.[5]

History

Petrohemija was founded in 1968 by the Government of SFR Yugoslavia. On 24 December 2021, Naftna Industrija Srbije increased its stake in HIP-Petrohemija to 90% of shares, after purchasing the majority of stakes from the Government of Serbia for 150 million euros.[6]

Activity

HIP Petrohemija owns large petrochemical complexes located in Pančevo, Elemir and Crepaja. These complexes include a number of nine producing plants.[7]

The ethylene plant is located in Pančevo and was established in 1979 and built by United States based company Stone & Webster and French company French Institute of Petroleum.[8] It produces ethylene, propylene, synthetic rubber, latex, carbon black and gasoline and has an annual production capacity of around 500,000 tonnes.[8] The high-density polyethylene (HDPE) plant is located in Pančevo and was established in 1975 under licence from the former United States based Phillips Petroleum Company.[9] The plant has two production lines and produces high-density polyethylene or HDPE having an annual capacity of 76,000 tonnes.[9] The low-density polyethylene (HDPE) plant is located in Pančevo and was established in 1979 under licence from the former United States based National Distillers.[10] The plant has one production line and produces low-density polyethylene or LDPE having an annual capacity of 57,000 tonnes.[10]

The synthetic rubber plant is located in Elemir and was established in 1983 under licence from the former Germany based Buna-Werke Hulls.[11] The plant has three production units and produces synthetic rubber having an annual capacity of 40,000 tonnes, 1,3-Butadiene under licence from Japanese company Nippon Zeon having an annual production capacity of 45,000 tonnes and methyl tert-butyl ether or MTBE under licence from Italian company Snamprogetti having an annual production capacity of 35,000 tonnes.[11] Other production plants include the PVC production plant in Crepaja with an annual capacity of 16,000 tonnes,[12] the polyethylene pipes and fittings plant in Pančevo with an annual capacity of 11,000 tonnes,[13] the chlorine-alkali electrolysis plant in Pančevo built under the licence of the Olin Corporation with an annual capacity of 200,000 tonnes,[14] a water treatment plant in Pančevo and a utility plant that produces energy fluids.

Market and financial data

In 2017, after years of insolvency, HIP-Petrohemija made record 341.48 million euros of net profit.[15][16] This tremendous trend turnover was achieved through debt write off and debt-to-shares conversion by the Government of Serbia.[15]

References
  1. "Bilans uspeha (2019) - HIP-Petrohemija". apr.gov.rs (in Serbian). Retrieved 26 December 2020.
  2. "Bilans stanja (2019) - HIP-Petrohemija". apr.gov.rs (in Serbian). Retrieved 26 December 2020.
  3. "Getting the deal done, Introduction: Serbia's beleaguered pethem player is in dire need of investment and a secure future. With Gazprom securing NIS, another purchase seems logical". Allbusiness. 2009. Retrieved 2010-09-22.
  4. "Who We Are". HIP Petrohemija. 2010. Archived from the original on 2010-12-09. Retrieved 2010-09-22.
  5. "Petrohemija profile". HIP Petrohemija. 2010. Archived from the original on 2010-12-09. Retrieved 2010-09-22.
  6. "Preuzeta Petrohemija". b92.net (in Serbian). Tanjug. 24 December 2021. Retrieved 24 December 2021.
  7. "Plants". HIP Petrohemija. 2010. Archived from the original on 2010-12-09. Retrieved 2010-09-22.
  8. "Ethylene Plant". HIP Petrohemija. 2010. Archived from the original on 2010-12-09. Retrieved 2010-09-22.
  9. "High Density Polyethylene (HDPE) Plant". HIP Petrohemija. 2010. Archived from the original on 2010-12-09. Retrieved 2010-09-22.
  10. "Low Density Polyethylene (LDPE) Plant". HIP Petrohemija. 2010. Archived from the original on 2010-12-09. Retrieved 2010-09-22.
  11. "FSK - Synthetic Rubber Plant". HIP Petrohemija. 2010. Archived from the original on 2010-12-09. Retrieved 2010-09-22.
  12. "PANONIJAPLAST - Compound Production Plant". HIP Petrohemija. 2010. Archived from the original on 2010-12-09. Retrieved 2010-09-22.
  13. "PETROPLAST - PE Pipes and Fittings Plant". HIP Petrohemija. 2010. Archived from the original on 2010-12-09. Retrieved 2010-09-22.
  14. "ELECTROLYSIS - Chlor-Alkali Electrolysis Plant". HIP Petrohemija. 2010. Archived from the original on 2010-12-09. Retrieved 2010-09-22.
  15. Bulatović, S. (12 September 2018). "LISTA "STO NAJ": "Petrohemija" dobitnik posle otpisa duga". novosti.rs (in Serbian). Retrieved 24 September 2018.
  16. "СТО НАЈ... ПРИВРЕДНИХ ДРУШТАВА У РЕПУБЛИЦИ СРБИЈИ У 2017. ГОДИНИ" (PDF). apr.gov.rs (in Serbian). Belgrade. 12 September 2018. pp. 14, 15. Retrieved 24 September 2018.
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