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MOL seeks more time for NIS acquisition, Serbia says
🇷🇸 Serbia /Economy & Trade

MOL seeks more time for NIS acquisition, Serbia says

From N1 Serbia · () Serbian

Translated from Serbian, summarized and contextualized by DistantNews.

At a glance

News Named sources Ongoing story
  • Serbia's Energy Minister stated that Hungarian oil company MOL has requested an extension from the U.S. Treasury's OFAC to finalize negotiations for acquiring NIS from Russian Gazprom Neft.
  • MOL's CEO reportedly confirmed the request for a 30-day extension beyond the June 6 deadline for its operating license.
  • NIS is operating normally, and Gazprom Neft will also seek an extension for its operating license, which expires in mid-June.

Hungary's oil and gas company MOL has asked the U.S. Treasury's Office of Foreign Assets Control (OFAC) for more time to complete its acquisition of Serbia's Oil Industry (NIS) from Russian state-controlled Gazprom Neft. Serbian Mining and Energy Minister Dubravka Djedovic Handanovic confirmed the request, stating that MOL CEO Zsolt Hernádi had informed her of the company's appeal for a 30-day extension.

The current deadline for MOL's operating license is June 6. The minister indicated that MOL's request suggests a willingness to find a resolution. Meanwhile, NIS, which is majority-owned by Gazprom, continues to operate normally. Gazprom Neft itself plans to seek an extension for its operating license, which is set to expire in mid-June.

Djedovic Handanovic made these remarks at the St. Petersburg International Economic Forum, where she also received confirmation of the request from Gazprom Neft CEO Alexander Dyukov. The ongoing negotiations and the need for extensions highlight the complex geopolitical factors influencing energy sector deals involving Russian companies.

There is certainly a will to find a solution on their side.

— Dubravka Djedovic HandanovicSerbian Energy Minister on MOL's efforts to acquire NIS.
DistantNews Editorial

Originally published by N1 Serbia in Serbian. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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