Serbia’s NIS has received a further US licence extension allowing operations to continue through 30 October, giving the country’s only oil refinery another period of operating certainty while ownership negotiations continue.
The extension supports production of diesel, petrol, kerosene and fuel oil at Pančevo.
Talks involving MOL over a possible acquisition remain under way. Serbian authorities have prepared a shareholders’ agreement intended to regulate the state’s position if a transaction proceeds and receives the necessary approvals.
Continued refinery operations are particularly important as elevated fuel prices, low Danube water levels and higher logistics costs complicate alternative supplies.
The government has released 5,000 tonnes of diesel from reserves and used excise-duty reductions to contain retail price increases.
The licence provides near-term supply relief, but it leaves the longer-term ownership and sanctions solution unresolved.
