MOL Sees Progress in NIS Acquisition Talks, Secures Extension

MOL Group remains committed to acquiring a majority stake in Serbia's Naftna Industrija Srbije (NIS), signaling significant progress in the complex negotiations. Zsolt Hernádi, President and CEO of MOL Group, stated that the talks have entered their final phase, expressing confidence that the transaction will ultimately prove beneficial for all stakeholders.

The Hungarian energy giant recently secured an official extension from the U.S. Treasury Department's Office of Foreign Assets Control (OFAC). This approval grants MOL an additional two weeks, until June 6, 2026, to finalize the negotiations concerning the purchase of the Russian share in NIS, currently held by Gazprom Neft.

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During the past months, we have conducted intensive negotiations with all key participants of the transaction related to NIS and have made significant progress. We have entered the final phase of these very complex negotiations. We are optimistic, however, certain conditions and details still need to be agreed upon in the coming weeks. We continue to believe that this transaction would be beneficial for all parties involved and contribute to the long-term security of supply for the region as a whole, and especially for Serbia.

Serbia's Minister of Energy, Dubravka Đedović Handanović, confirmed the extension, emphasizing the government's ongoing efforts to navigate the complexities of the deal. While acknowledging the intricate nature of the situation, she reiterated Serbia's commitment to safeguarding the nation's interests and finding a long-term solution. MOL's continued engagement, supported by the OFAC extension, underscores the strategic importance of NIS for regional energy security and MOL's expansion plans in the Western Balkans.

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The situation is complex, but our goal and job is to find a long-term solution and protect the interests of the state of Serbia.