NIS

Serbia seeks solution to US sanctions on national oil company NIS Read More »

Serbia seeks solution to US sanctions on national oil company NIS

Finance Minister Sinisa Mali stated that discussions are ongoing with both Russian and US representatives to find a solution that safeguards the interests of Serbian citizens. He stressed that Serbia did not trigger these sanctions and must ensure that its energy security is not compromised. The government’s priority, according to Minister Mali, is to prevent […]

Serbia: NIS requests U.S. license to delay sanctions and removal from SDN list Read More »

Serbia: NIS requests U.S. license to delay sanctions and removal from SDN list

Serbian oil company NIS has confirmed that it submitted a new request to the U.S. Treasury Department for a special license to delay the full implementation of sanctions, allowing the company to continue operations. In addition, NIS filed a separate application to be removed from the Specially Designated Nationals (SDN) list, a process described as

Croatia: JANAF seeks US license extension to mitigate revenue loss from potential NIS sanctions Read More »

Croatia: JANAF seeks US license extension to mitigate revenue loss from potential NIS sanctions

Croatian oil pipeline operator JANAF has warned that it could lose a significant portion of its revenues if US sanctions on Serbian oil company NIS are implemented in October. To address this risk, JANAF plans to request an extension of its license from US authorities to continue its cooperation with NIS. Currently, JANAF holds a

Serbia: US sanctions on NIS set for October 1 after brief extension Read More »

Serbia: US sanctions on NIS set for October 1 after brief extension

Serbian President Aleksandar Vučić announced that the United States has extended the sanctions deadline for the country’s oil company NIS by only four days, making them effective from October 1, 2025. The United States placed Serbia’s largest oil firm under sanctions on January 10, citing secondary risks tied to its majority Russian ownership in the

Serbia: Gazprom transfers NIS stake to subsidiary ahead of US sanctions deadline Read More »

Serbia: Gazprom transfers NIS stake to subsidiary ahead of US sanctions deadline

Russian company Gazprom has formally withdrawn as a shareholder in Serbian oil company NIS, transferring its 11.3 percent stake to another Russian firm, Intelligence, just days before U.S. sanctions against NIS are scheduled to take effect on September 26. After the transaction, GazpromNeft remains the largest shareholder with 44.85 percent, the Serbian government holds 29.87

Serbia: US extends sanctions deadline for NIS until late September Read More »

Serbia: US extends sanctions deadline for NIS until late September

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

Serbia: NIS seeks another OFAC license extension amid US sanctions risks Read More »

Serbia: NIS seeks another OFAC license extension amid US sanctions risks

Serbian oil company NIS has formally requested another extension of its operating authorization from the US Treasury’s Office of Foreign Assets Control (OFAC), as the current one-month waiver is set to expire on 27 August. The company has already received five consecutive renewals, each allowing it to continue daily operations while US authorities assess the

Serbia: NIS launches tender for enhanced oil recovery pilot project at Velebit field Read More »

Serbia: NIS launches tender for enhanced oil recovery pilot project at Velebit field

NIS has initiated a tender for the construction of a system to evaluate the feasibility of an enhanced oil recovery (EOR) method at the Velebit exploitation field in the municipality of Kanjiža. Velebit, Serbia’s largest oil deposit, was discovered in 1968, with production starting in 1985. The pilot project aims to increase output by injecting

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