Serbia Sets Deadline for MOL Response on NIS Acquisition Proposal
Serbia is set to submit its final proposal regarding the future of the Serbian Petroleum Company (NIS) to the Hungarian oil giant MOL by Friday evening. According to Serbian Energy Minister Dubravka Djedovic Handanovic, MOL’s board must decide on the offer by Monday. While recent negotiations in Athens showed progress, significant disagreements remain concerning the operational impact of the Pančeva refinery on the Serbian economy. The minister emphasized that protecting national economic interests and supply security is non-negotiable. The deal involves MOL potentially acquiring the 56.15% Russian stake in NIS from Gazprom and Gazpromneft for approximately one billion euros. However, the probability of this transaction completing appears to be decreasing due to political changes in Hungary and dissatisfaction with MOL's current offers. The final agreement also hinges on the positions of the US government and the Russian majority owner. Previously, plans included ADNOC entering the partnership and the Serbian state increasing its share, with an initial target to sign by March 2026, which has now passed.
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