Last week, Hungarian oil company MOL and Croatian state-owned transporter JANAF conducted joint tests on the JANAF pipeline, but results did not confirm that the system can sustain long-term crude oil flows to Hungary and Slovakia. According to MOL, the pipeline was only able to operate at the required capacity for short periods of one […]
Serbia: US extends sanctions deadline for NIS until late September Read More »
The US Department of the Treasury has once again delayed the enforcement of sanctions on Serbian oil company NIS, marking the sixth extension of the deadline. According to the Serbian Government, the new date for the possible implementation is set for 26 September. Officials emphasized that despite ongoing geopolitical challenges, NIS continues to ensure stable
Hungary: MOL CEO criticizes EU energy policy, warns against overreliance on LNG plans Read More »
MOL Group CEO Zsolt Hernadi has questioned the course of European Union energy policy, arguing that the company’s strong performance is rooted in its refining capacity, logistics network, and retail presence rather than any dependence on Russian crude oil. Hernadi criticized the European Commission’s goal of ending Russian natural gas imports by 2027, calling the
Montenegrin state-owned power company EPCG is set to launch a new tender in August for the small hydropower plant (SHPP) Otilovici, two years into a procurement process that has been canceled twice. Along with the new call, EPCG is considering involving international financial institutions as funding partners to ensure a bankable project. If the procedure
Bulgaria: Uni Energy seeks approval to acquire NIS Petrol Bulgaria Read More »
The Bulgarian Commission on Protection of Competition has received a notification from local company Uni Energy requesting approval to acquire NIS Petrol Bulgaria. Uni Energy is a Bulgarian fuel retailer owned by Ivaylo Konstantinov. The company collaborates with the Swiss group Avia International and TTN Commerce through Avia Bulgaria. By the end of 2024, Uni
Montenegrin fuel retailer Jugopetrol posted a net profit of 3.44 million euros in the first half of 2025, significantly down from 27.8 million euros recorded in the same period last year. Despite the drop, this year’s figure represents a 23.7 percent increase compared to earlier annual trends, with the company having earned 7 million euros
Dušan Bajatović, general director of the state-owned gas company Srbijagas and a member of the government team addressing US sanctions related to Serbian oil company NIS, stated that the recent postponement of full US sanctions implementation has allowed NIS to continue operating without disruption. Bajatović emphasized that a lasting resolution will require an agreement acceptable
Serbia: NIS Group maintains market stability despite loss in H1 2025 Read More »
In the face of a challenging macroeconomic environment during the first half of 2025, the NIS Group remained committed to maintaining market stability, ensuring a steady supply of all fuel types, and protecting the social welfare of its employees. These strategic priorities were successfully upheld despite a complex operating environment. The company’s financial and operational
Serbia: US Treasury extends sanctions delay on NIS for fifth time Read More »
The US Treasury Department has postponed the activation of sanctions on Serbian oil company NIS for an additional 30 days, marking the fifth extension since January. Serbian Energy Minister Dubravka Djedović noted that securing a further, longer reprieve is currently not possible. She attributed the decision to the broader geopolitical situation and complex negotiations among
OMV Petrom and the state-owned company Romgaz have announced a €750 million infrastructure investment for the Neptun Deep offshore gas project in the Black Sea, following the issuance of an establishment authorization by Romania’s National Energy Regulatory Authority (ANRE). This funding will cover all essential foundational work required to bring the offshore field into production.
