Serbia not satisfied with revised offer of Hungary's MOL to buy Russian stake in NIS
MOSCOW. May 13 (Interfax) - Serbia is not satisfied with the revised offer of Hungary's MOL to buy the Russian stake in the Serbian energy company NIS (part of Gazprom Neft ), Serbian Mining and Energy Minister Dubravka Djedovic Handanovic was cited as saying by local media.
The Serbian side is not satisfied with MOL's plans regarding the oil refinery in Pancevo, Dedovic Handanovic said.
Dedovic Handanovic previously said that Belgrade seeks to obtain guarantees from MOL to increase Serbia's stake in NIS by 5 percentage points in order to have greater influence over NIS's strategic decisions.
Negotiations between the Serbian and Hungarian sides continue, and the negotiation process between MOL and Gazprom Neft is ongoing in parallel, she said.
As reported, NIS was included in the U.S. sanctions list in January 2025. U.S. authorities insist on the exit of Russian shareholders from its capital.
In January 2026, Hungary's MOL announced that it had signed a binding preliminary agreement with Gazprom Neft to purchase its 56.15% stake in NIS. At the same time, MOL is negotiating with ADNOC, the national oil company of the UAE, to join the owners of NIS as a minority shareholder. It was also assumed that the Serbian government could increase its stake in NIS by 5%. To complete the transaction, approval from the U.S. Department of the Treasury through its Office of Foreign Assets Control (OFAC) is required.
OFAC has extended the license for negotiations on the sale of NIS several times. It is currently valid until May 22.
The main owner of NIS is Gazprom Neft (44.85%), and another 11.3% of shares belong to JSC Intelligence (managed by Gazprom Capital LLC). Gazprom directly holds one share of NIS. The Serbian authorities own 29.87%, and the company also has minority shareholders.
NIS is the only company in Serbia engaged in hydrocarbon exploration and production. It also owns a large refinery in the city of Pancevo with a capacity of 4.8 million tonnes per year. The company dominates the petroleum products market in the country, and its filling station network is also present in neighboring Balkan states, totaling more than 400 stations.
