Kravchenko, exhaustive exploitation, layoffs: Shady management of NIS

The former CEO of Petroleum Industry of Serbia (NIS), Kirill Kravchenko has founded a private company in Serbia during his time in the office which cooperated with NIS. Kravchenko is not the only NIS executive to have done this since there are a few more which, besides working for NIS, have also developing their own private businesses.

All the damage done to the Serbian oil fields due to the exhaustive exploitation of oil which could leave Serbia without oil reserves in four years’ time was done during Kravchenko’s ‘reign’. However, he is not going to be held responsible for this damage. On the contrary, he was even honoured by the Serbian President, Tomislav Nikolic who gave him a gold medal for exceptional achievements in public services, economic activities and strengthening of friendship between Serbia and Russia.

The critics say that he should be honoured by the Russian government for securing 48.4 billion dinars of profit for Gazpromneft in only one year, which is almost the same amount that the Russian company gave when it acquired the majority share in NIS.

A source of the Blic daily says that Kravchenko is well aware that he is untouchable in Serbia which can be seen from the things he did in his private life.

“He bought a house and several pieces of real estate near Novi Sad, and set up his own company in Serbia. Also, he is still an executive in Gazpromneft and NIS and a member in the Board of Directors in NIS. On top of that, he is deputy CEO of Gazpromneft in charge of managing foreign assets”, the daily has found out from other executives in NIS.

“Then there was his very luxurious wedding in Bari, Italy to his now second wife, who used to be his close associate in Gazpromneft. Even the Italian daily, La Repubblica and the Russian media reported about it. He has also bought some real estate in Monte Carlo”, the Blic sources say.

During his stint as CEO of NIS, Kravchenko’s monthly salary was around 100,000 EUR, and close to 6,000 people were fired from the company. Also, in 2015 and 2016, NIS paid out a total of 10 million EUR on the account of bonuses for the company executives.

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(Blic, 26.04.2017)


This post is also available in: Italiano

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