There is no company in Serbia whose fate is as closely watched — and as quietly contested — as NIS, the country’s dominant oil and gas enterprise and one of the most powerful corporate forces in the Western Balkans. For years, NIS has stood as the embodiment of Serbia’s energy system: vast, profitable, strategically crucial, and […]
Serbia: NIS launches surfactant–polymer injection project to boost production at Velebit Read More »
Serbian oil company NIS has received environmental clearance to start testing an enhanced oil recovery (EOR) method at the Velebit production field. The approval covers the environmental impact assessment prepared for the project, for which NIS issued a tender in August. The pilot project involves constructing a system to assess the performance of injecting a
Serbia seeks U.S. license as NIS ownership negotiations advance Read More »
Serbian President Aleksandar Vučić announced that Russian shareholders are currently negotiating with three potential buyers for their stake in oil company NIS, and that the talks are approaching a conclusion. He added that Serbia will soon begin discussions with U.S. officials to obtain a special license that would enable the Pančevo refinery to continue operating
Serbia: NIS ownership shift nears completion as Russia moves to sell its stake Read More »
Russian shareholders have agreed to sell their 56.15% stake in the Serbian oil company NIS, according to Minister of Mining and Energy Dubravka Djedović. She stated that the identity of the potential buyer remains confidential, noting that negotiations are still underway and that naming the party prematurely would be inappropriate while key terms of the
US gives Serbia three months to remove Russian ownership from NIS Read More »
The United States has given Serbia a three-month deadline to find a new owner for oil company NIS, whose majority shareholders are Russia’s Gazprom Neft and Gazprom, both of which are under US sanctions. Serbian Energy Minister Dubravka Đedović said the US Treasury Department, through the Office of Foreign Assets Control (OFAC), informed Belgrade that
Serbia: Gazprom races to sell 11.3% stake in NIS as talks with MOL intensify Read More »
Negotiations on the sale of part of Serbian oil company NIS have entered an accelerated phase, with Russian Gazprom seeking to secure a buyer for its 11.3 percent stake. Moscow’s primary expectation is that Hungarian energy company MOL, backed by Prime Minister Viktor Orbán, will acquire the share package. A clearer direction is expected in
The Russian shareholders of Serbian oil company NIS have submitted a formal request to the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) to extend the company’s operating license. The request comes amid ongoing talks with a third party that could take over management and control of NIS. Serbian Minister of Mining
The NIS Group reported a net loss of approximately €2.5 million for the first nine months of 2025, with earnings before interest, taxes, depreciation, and amortization (EBITDA) reaching around €180 million. The company attributed its performance to the implementation of cost-saving measures across all business segments and its ability to adapt to changing market conditions.
According to diplomatic sources quoted by Serbian media, the United States sees only two possible solutions to the issue surrounding Serbian oil company NIS, which remains under U.S. sanctions because of its Russian ownership. The first option would involve selling the Russian-held shares to a company with no ties to Russia, while the second would
US sanctions imposed on Serbia’s oil company NIS, due to its Russian ownership, have blocked a crude oil shipment that was expected to provide temporary relief for the country’s only refinery in Pančevo. Without new supplies, the facility may be forced to halt operations within days. President Aleksandar Vučić previously warned that the refinery—which produces
