Negotiations over the future ownership structure of oil company NIS are entering a decisive phase, with Serbian authorities indicating progress in talks involving both MOL Group and the current Russian majority shareholder.
Energy Minister Dubravka Đedović stated that discussions are advancing constructively and are expected to intensify in the coming days, with additional negotiation rounds planned shortly. According to her, a final agreement on shareholder rights and obligations could be reached by mid-May.
Once a framework is agreed, the next step will involve submitting key transaction details to US authorities for approval, in line with applicable licensing requirements. This regulatory phase is expected to follow soon after the conclusion of negotiations.
The Minister stressed the strategic importance of NIS for Serbia, particularly amid ongoing market volatility. She highlighted that countries without refining capacity are more exposed to supply disruptions, emphasizing the need to secure long-term commitments for refinery operations. Maintaining a minimum level of annual crude processing is considered essential for safeguarding domestic energy stability.
The current negotiations build on an earlier agreement signed in January between MOL and Gazprom Neft, which outlined the basic terms for a potential acquisition of a majority stake in NIS. The process is being conducted under a license issued by the US Office of Foreign Assets Control (OFAC), which sets a completion deadline of 22 May.
With multiple stakeholders involved and regulatory approvals still required, the coming weeks are expected to be decisive for one of the most significant energy transactions in the region.
