Serbia Challenges MOL's NIS Acquisition Proposal
Serbia's energy minister expressed dissatisfaction with Hungary's MOL latest proposal to acquire a majority stake in Serbia's oil company, NIS. Concerns include NIS operations and local market coverage. Discussions are ongoing, amidst US sanctions on Russian ownership linked to the Ukraine conflict. Serbia seeks to increase its stake.
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- Serbia
In a significant development, Serbia's energy minister has voiced dissatisfaction with the revised offer from Hungary's MOL to acquire a majority stake in the country's oil company, NIS. The minister highlighted concerns regarding the operational future of NIS, especially its influence on the domestic market, as a key issue.
Despite ongoing talks, MOL's current offer has not met Belgrade's expectations, mainly due to apprehensions about securing supply and the economic impact of the refinery's operations. The Serbian government remains in discussions, aiming for a compromise but emphasizing it should not come at any undue cost.
Amid these negotiations, the U.S. has imposed sanctions demanding Russian divestment from NIS due to the Ukraine situation. MOL has previously agreed to purchase Russian-held stakes, with Washington's deadline looming for the sale completion by May 22. Serbia is also keen on increasing its share in NIS.
(With inputs from agencies.)
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- Serbia
- NIS
- MOL
- energy minister
- oil company
- Gazprom Neft
- Gazprom
- sanctions
- Ukraine
- Russian stakes
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