Operations of Serbian oil company NIS will continue without interruption after the U.S. Office of Foreign Assets Control (OFAC) granted a new 60-day extension, allowing the company to operate until mid-June. The decision provides temporary relief for Serbia’s energy sector while broader negotiations over the company’s long-term structure continue.
According to Serbian Minister of Energy and Mining Dubravka Đedović, the extension enables more predictable crude oil procurement planning, ensures stable operations at the Pancevo refinery, and supports the continuous supply of fuels to the domestic market. Officials view the move as essential for maintaining short-term energy security and market stability.
The development is also seen as a sign of progress in ongoing discussions between MOL Group and Gazprom Neft regarding a possible restructuring of NIS ownership. Authorities emphasize that the key priorities remain operational continuity, job protection, and overall system stability.
At the same time, the Government is pursuing two parallel objectives: securing the company’s permanent removal from the U.S. sanctions framework and increasing the state’s ownership share by 5%, aiming to strengthen its influence over strategic decision-making.
Further negotiations are expected to intensify in the coming days, with senior representatives of MOL Group scheduled to visit Serbia, followed by additional meetings between operational teams as discussions on the future structure of NIS continue.
