US sanctions

Serbia: UAE’s ADNOC enters the EU oil market through NIS as a minority partner of MOL Read More »

Serbia: UAE’s ADNOC enters the EU oil market through NIS as a minority partner of MOL

Hungarian energy major MOL Group and the Abu Dhabi National Oil Company (ADNOC) are actively involved in negotiations that could reshape the energy landscape of Central and Southeastern Europe — but the core of the immediate negotiations is centered on MOL’s planned acquisition of the Russian-owned stake in Serbia’s NIS (Naftna Industrija Srbije), with ADNOC potentially joining as a minority investor in that broader […]

Serbia: NIS sees major ownership shift as Russian stake sold to MOL Read More »

Serbia: NIS sees major ownership shift as Russian stake sold to MOL

Serbian oil company NIS has entered a new ownership phase following months of US sanctions and negotiations over its shareholder structure. The Russian stake in the company has now been sold, marking a significant shift in control. The 56.15% share previously held by Russian interests has been transferred to Hungary’s MOL, making it the company’s

Serbia: Talks on NIS progress amid US sanctions concerns Read More »

Serbia: Talks on NIS progress amid US sanctions concerns

Russian Foreign Minister Sergei Lavrov stated that discussions regarding the future of Serbian oil company NIS are actively progressing. He criticized US sanctions policy, arguing that unilateral restrictions and the use of the dollar as leverage undermine the global framework the United States once championed. Lavrov highlighted the bilateral agreement between Serbia and Russia, emphasizing

Serbia warns Pancevo refinery will shut down without new U.S. license Read More »

Serbia warns Pancevo refinery will shut down without new U.S. license

Serbian President Aleksandar Vučić announced that the Pančevo refinery, operated by oil company NIS, will be forced to halt operations on 2 December unless the United States grants a license allowing the company to continue working under the existing sanctions framework. President Vučić warned that, without this authorization, Serbia will need to secure alternative channels

Serbia moves to secure legal path for takeover of NIS amid sanctions crisis Read More »

Serbia moves to secure legal path for takeover of NIS amid sanctions crisis

Parliament Speaker Ana Brnabić announced that the Government will introduce an amendment to the 2026 draft budget that would allow Serbia to assume ownership of the oil company NIS, currently majority-owned by Russia’s Gazprom. Brnabić explained that the amendment follows discussions President Aleksandar Vučić held with several political parties and is intended to establish a

Romania: Three international bidders show interest in acquiring Lukoil assets Read More »

Romania: Three international bidders show interest in acquiring Lukoil assets

Three prospective buyers from Romania, the European Union and the United States have expressed interest in acquiring Lukoil’s Romanian assets, which include the Petrotel refinery, a nationwide fuel distribution network and an offshore exploration block. Energy Minister Bogdan Ivan confirmed the developments, noting that some bidders are pursuing a broader, global acquisition of Lukoil’s international

The high-stakes game around NIS: How Serbia’s oil giant became a battleground of influence, strategy and survival Read More »

The high-stakes game around NIS: How Serbia’s oil giant became a battleground of influence, strategy and survival

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 seeks U.S. license as NIS ownership negotiations advance Read More »

Serbia seeks U.S. license as NIS ownership negotiations advance

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 boosts emergency fuel reserves amid sanctions pressure on NIS Read More »

Serbia boosts emergency fuel reserves amid sanctions pressure on NIS

Serbia has intensified efforts to strengthen its emergency fuel reserves in the coming weeks. As part of the plan, the state is arranging deliveries of 38,000 tons of petrol, approximately 66,000 tons of diesel, and an additional 86,000 tons of crude oil to reinforce national stockpiles. Energy Minister Dubravka Đedović announced the measures during consultations

Region: Chevron joins bidders eyeing Lukoil’s international assets after U.S. sanctions shift Read More »

Region: Chevron joins bidders eyeing Lukoil’s international assets after U.S. sanctions shift

US energy giant Chevron is evaluating selective opportunities to acquire parts of the international portfolio of Russian oil company Lukoil, which is currently under US sanctions. The move comes after the US Department of the Treasury last week granted potential buyers permission to engage in preliminary discussions with Lukoil regarding its overseas assets. With this

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