Overview
- MOL and Gazprom Neft agreed core terms for transferring the 56.15% controlling stake, with materials being sent to the U.S. Treasury’s OFAC by January 19–20 for review.
- Officials expect OFAC to decide by January 23 on extending NIS’s short-term operating license granted on December 31.
- The parties aim to sign a final purchase agreement by March 31, 2026, pending OFAC clearance and Serbian and regional regulatory approvals.
- Serbia will increase its holding in NIS by five percentage points, and MOL is in talks for ADNOC to join as a minority investor while MOL retains control.
- NIS says the Pančevo refinery has sufficient oil to run through February, with first product shipments expected January 27 after restart work, as Hungary pledges diplomatic support for MOL.