Serbia: US delays sanctions on NIS until early October Read More »
The enforcement of US sanctions on Serbian oil company NIS has been postponed until 8-9 October. The measures were originally set to take effect on 1 October, but discussions between Serbian President Aleksandar Vučić and US officials led to the short extension. President Vučić previously confirmed that additional talks with US representatives had requested the […]
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 »
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 »
Russian company Gazprom has formally withdrawn as a shareholder in Serbian oil company NIS, transferring its 11.3 percent stake to another Russian firm, Intelligence, just days before U.S. sanctions against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: Gazprom sells 11.3% stake in oil company NIS amid US sanctions Read More »
Russian energy giant Gazprom has sold its entire direct stake of 11.3 percent minus one share in Serbian oil company NIS, leaving it with just a single share compared to over 18.4 million before the transaction. The sale comes amid US sanctions targeting Russian ownership in the Serbian energy sector. The stake was acquired by
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
Serbia: NIS seeks another OFAC license extension amid US sanctions risks Read More »
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 »
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
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 to sell Bulgarian subsidiary amid market challenges Read More »
Serbian oil and gas company NIS has announced that its board of directors has approved the sale of its wholly owned subsidiary, NIS Petrol Bulgaria, due to ongoing operational challenges in the Bulgarian market. According to the company’s H1 2025 financial report, the planned transaction involves the full divestment of its stake in the subsidiary.
