NIS

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Russian company Gazprom has formally withdrawn as a shareholder in Serbian oil company NIS, transferring its 11.3 percent stake to another Russian firm, Intelligence, just days before U.S. sanctions against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

Serbia: Srbijagas director highlights ongoing US sanctions delays, stable operations at NIS Read More »

Serbia: Srbijagas director highlights ongoing US sanctions delays, stable operations at NIS

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 »

Serbia: NIS Group maintains market stability despite loss in H1 2025

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 »

Serbia: US Treasury extends sanctions delay on NIS for fifth time

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

Serbia: NIS seeks extension of US sanctions license to continue operations beyond June 27 Read More »

Serbia: NIS seeks extension of US sanctions license to continue operations beyond June 27

Serbian oil company NIS has submitted a new request to the US Department of the Treasury for a special license to extend the postponement of full sanctions enforcement. This extension would allow NIS to continue its regular operations beyond June 27, when its current temporary license—granted on April 25—is set to expire. In March, NIS

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