Serbia signs shareholder agreement with Hungary's MOL for future management of NIS

Minister of Mining and Energy Dubravka Đedović Handanović signed a shareholder agreement between the Serbian government and the Hungarian MOL Group outlining future management of Naftna Industrija Srbije (NIS). The deal, approved by the cabinet, will become effective only if MOL acquires a majority stake by buying Gazpromneft’s 56.15 % share, subject to U.S. OFAC approval. Under the agreement Serbia will purchase an additional 5 % of NIS shares, and MOL will obtain the right to manage the company, ensuring stable supply to the Serbian market and continued operation of the Pančevo refinery for at least the next ten years. The minister highlighted that NIS now holds record crude oil inventories – about 350,000 tonnes secured through July 1 – and that the licence for operational work has been extended to the same date. The agreement also aims to mitigate regulatory, financial and operational risks and to keep downstream subsidiaries such as Petrohemija running without disruption.