BELGRADE – Hungarian oil and gas company MOL has received an official license from the US Treasury Department’s Office of Foreign Assets Control (OFAC) allowing it to continue negotiations on the acquisition of the Russian majority stake in Serbia’s Oil Industry of Serbia (NIS) until 30 October 2026, it has been reported by Radio Television of Serbia.
On the other hand, Forbes Serbia claims, citing unofficial information, that negotiations on the purchase of NIS “practically failed”, stressing that the Russian Gazprom “definitely does not want to sell its package of shares in the Oil Industry to Serbia, and that is remains silent about it just to buy time”.
The article notes that the Hungarian company did not answer the questions of Forbes Serbia whether they asked for a license extension at all, as NIS did, whether the negotiations with the Russian side on the purchase of the majority package of shares are in progress, and why did the negotiations stall.
In June 2026, it was announced that MOL Group signed a joint stock agreement with the Government of Serbia defining the future management model of the NIS.
It was specified that if MOL Group successfully becomes the majority owner of the company, it will ensure the further development of NIS, secure supply of the Serbian market and the continuation of the operation of the Pančevo oil refinery.
“In addition to the conclusion of the purchase agreement, additional regulatory approvals are necessary for the realization of the transaction. MOL Group continues negotiations with Gazprom Neft to acquire its 56.15 percent stake in NIS”, the statement said.
