NIS operating license extended by US until September 30

The United States has extended the operating license for the Petroleum Industry of Serbia (NIS) until September 30. This decision by the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) ensures that NIS and the Pančevo oil refinery can continue their operations.

Serbian Energy Minister Dubravka Đedović Handanović stated that the extension is a signal of progress regarding the complex negotiations for the sale of NIS. The company is currently majority-owned by the state-controlled Gazprom Neft, which holds a 44.85% stake. Negotiations are reportedly in their final stages between Gazprom Neft and the Hungarian oil and gas company MOL.

Regarding energy security, the Minister confirmed that fuel supplies are expected to remain stable through September. Despite low water levels on the Danube affecting imports, the Pančevo refinery has increased its daily processing capacity to nearly 13,000 tons. NIS plans to increase production in September, targeting the manufacturing of approximately 190,000 tons of euro diesel, 50,000 tons of gasoline, and other petroleum products to meet domestic demand.