Serbia and MOL sign NIS agreement, but the deal still awaits Gazprom Neft and OFAC
On June 16, the Energy Ministry and MOL signed a shareholder agreement on the future management of NIS: it takes effect only if MOL reaches a deal with Gazprom Neft to buy 56.15 percent of NIS and receives OFAC approval. The same day, Aleksandar Vucic said from Tbilisi that, based on information he was receiving from Washington, NIS's operating license may be extended for another 15 days.
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Serbian government and MOL Group sign shareholder agreement on NIS management
N1 reports the Energy Ministry statement: Dubravka Djedovic Handanovic signed a shareholder agreement with MOL on the future management of NIS, but it takes effect only if MOL and Gazprom Neft agree on the sale and OFAC approves the transaction. MOL is continuing talks to acquire 56.15 percent of NIS; under the agreement Serbia is to buy another five percent of the shares, while the Pancevo refinery should operate for at least the next 10 years at capacity comparable to the four years before US sanctions. The agreement also says Serbian market supply should be protected, subsidiaries including Petrohemija should avoid disruption, and Serbia's representatives should have more influence on board decisions.
Vucic: I have word from Washington that the NIS operating license will be extended by 15 days
In a second item, N1 quotes Aleksandar Vucic, who told reporters in Tbilisi on June 16 that he expected the NIS operating license to be extended for another 15 days, although he said this had not yet been officially confirmed at the moment of the statement. Vucic described it as his own assessment based on contacts from Washington and added that the period is short, so he hopes the Russian side will accept the agreement to sell its NIS stake to Hungary's MOL.
MOL Group: We will ensure NIS development and refinery operations if we become owners
Novosti emphasizes MOL's statement: if the company becomes NIS's majority owner, it will ensure further development, secure supply for the Serbian market, and continued operation of the Pancevo oil refinery. The outlet quotes Zsolt Hernadi as saying the agreement with the government does not yet complete the sale: a final deal with Gazprom Neft and US consent are still needed. The article also notes that MOL's OFAC license for negotiations was valid until June 16, while NIS's special license allowed operations, oil refining, crude imports, transactions needed for supply, and technical maintenance until that date.