US EditionRussia's Gazprom Neft reaches provisional agreement to sell NIS stake to Hungary's MOL
Hungary's MOL signed a provisional deal to acquire a 56.15% stake in Serbia's NIS, with final approval pending U.S. sanctions clearance and Serbia boosting its stake by 5%.
- On Monday, MOL Group signed a binding heads of agreement to acquire a 56.15% stake in Naftna Industrija Srbije from Gazprom Neft, pending U.S. Office of Foreign Assets Control approval.
- Sanctions and temporary waivers forced NIS to pursue a buyer after the U.S. Treasury Department's Office of Foreign Assets Control imposed sanctions in October, granting licences until March 24 and a reprieve for crude imports through January 23.
- The NIS asset base includes the Pancevo refinery with 4.8 million tonnes capacity, 173 million barrels of oil equivalent reserves, and Serbia will increase its stake by five percent from 29.87%.
- The Hungarian government offered diplomatic support after the provisional agreement, and MOL said the transaction can ensure long-term, stable operation of the Pancevo refinery with a sales agreement target of March 31, 2026.
- Observers say the deal reaches beyond commercial interests to involve several governments, with MOL negotiating possible ADNOC minority participation and potential integration of Slovakia, Hungary and Serbia markets.
62 Articles
62 Articles
Russia Sees Sale of Gazprom Stake in Serbia’s Sole Refinery as Beneficial
Gazprom Neft’s deal to sell its stake in Serbia’s only refinery will be beneficial for Moscow, Russia’s Foreign Minister Sergey Lavrov said on Tuesday. On Monday, Hungarian oil company MOL Group signed a binding heads of agreement with Russia’s Gazprom Neft to buy its 56.15% stake in Serbia’s only refinery Naftna Industrija Srbije (NIS), following months of talks and waivers from the U.S. for negotiations to proceed. NIS operates Serbia’s only…
MOL has signed the main provisions of a binding framework agreement with Russia's Gazprom Neft to acquire a 56.15 percent stake in the Oil Industry of Serbia (NIS), the Hungarian energy giant confirmed. Serbia has already asked the US to extend NIS's special operating license, which expires on Friday.
Hungary’s MOL Strikes Deal to Buy Russian Majority Stake in Serbia’s Oil Firm NIS - Hungarian Conservative
Serbia has reached an agreement for Hungary’s oil and gas company MOL to purchase the majority Russian-owned stake in Serbia’s national oil company NIS from Gazpromneft, Serbian Energy Minister Dubravka Djedovic Handanovic announced on Monday. According to the minister, the terms of the deal will also be forwarded to US President Donald Trump’s administration. Djedovic Handanovic said the deal would improve Serbia’s position in NIS, allowing the…
Gazprom Neft Provisionally Agrees to Sell Stake in Serbian Oil Firm
Serbia’s energy minister said Monday that the Russian majority owners of the country’s largest oil company, which is under U.S. sanctions, have agreed to sell their stake to the Hungarian energy group MOL.
MOL, Gazpromneft and Serbia await OFAC's decision
Russia’s Gazprom Agrees to Sell Majority Stake in Serbia’s Oil Industry to Hungary’s MOL
The deal to acquire Russia’s majority holding in NIS, which owns Serbia’s sole refinery, is awaiting approval from the US sanctions office. The UAE is in talks to become a minority stakeholder.
Coverage Details
Bias Distribution
- 54% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
