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[BUSINESS] · Serbia, Hungary, Russia · 7 sources

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MOL and Gazprom Neft advance NIS ownership negotiations

Serbian Minister of Mining and Energy Dubravka Đedović Handanović stated that negotiations between Hungarian oil company MOL and Russia's Gazprom Neft regarding the sale of the majority stake in Naftna Industrija Srbije (NIS) are progressing. She noted that Serbia is not an obstacle to these talks, though the final outcome does not depend on the Serbian government.

Handanović clarified that Abu Dhabi National Oil Company (ADNOC) had expressed interest in becoming a minority shareholder, but only after MOL acquired the 56 percent stake from Gazprom Neft. The Serbian government maintains that ADNOC's entry would be beneficial for NIS.

In its second-quarter report, MOL identified the shareholder agreement with the Serbian government as a key corporate event. Reports indicate that negotiations involved compromises on critical issues, such as the oil royalty rate, which was reportedly settled at 9 percent.

Additionally, the Minister highlighted challenges caused by low water levels on the Danube, which have disrupted regional supply chains, reducing the delivery of imported coal and oil derivatives to approximately 25-30 percent of planned volumes. Regarding energy infrastructure, preparatory work for the Bistrica hydroelectric project is set to begin this year.

Entities

ADNOC · Dubravka Đedović Handanović · Gazprom Neft · MOL Group · Naftna Industrija Srbije

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