Hungarian energy group MOL has been granted additional time by U.S. authorities to continue negotiations regarding the potential acquisition of a controlling stake in Serbian oil company NIS.
The authorization was issued by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC), extending the period for discussions until 16 June. According to MOL, the extension will allow the parties to complete the preparation of documentation required for the proposed transaction.
This latest decision follows a series of previous approvals from OFAC. The most recent extension had been granted on 22 May, allowing negotiations to continue until 6 June. Although MOL reportedly requested a 30-day extension, U.S. regulators approved an additional ten-day period instead.
MOL stated that significant progress has been achieved during the latest round of talks, adding that the newly granted extension should provide sufficient time to finalize the remaining elements of the transaction framework.
The negotiations focus on a potential majority stake acquisition in NIS, one of Serbia’s most strategically important energy companies. The process has attracted attention due to the company’s ownership structure and the implications of U.S. sanctions targeting Russian-linked energy assets.
While no final agreement has been announced, the OFAC decision indicates continued allowance for negotiations, giving both sides additional time to complete discussions and prepare the necessary legal and commercial documentation for a potential deal.
