MOL signs agreement to manage Serbia's NIS amid political criticism

Hungarian energy group MOL and the Serbian government have signed a shareholder agreement covering the future management of Naftna Industrija Srbije (NIS). The deal provides that Serbia will purchase an additional five percent of NIS shares and that the Pančevo refinery will continue operating for at least the next ten years. Finalisation of the transaction still requires regulatory clearance, a purchase agreement with Gazpromneft for its 56.15% stake, and approval from the U.S. Office of Foreign Assets Control.

Opposition leader Dragan Đilas called MOL "the worst possible buyer" for NIS, accusing Energy Minister Dubravka Đedović Handanović of committing a criminal act by signing the contract with the Hungarian firm. Đilas questioned the timing of the government’s decision and demanded clarification on the legal basis for the sale.