Energy minister: NIS remains exposed to risks, efforts underway to lift US sanctions

Serbian Mining and Energy Minister Dubravka Djedovic Handanovic held talks on Wednesday with the Serbian members of the Serbian Oil Industry (NIS) Board of Directors to discuss the company’s current operations and strategic outlook.

The minister said that the Serbian Government and the MOL Group signed a shareholders’ agreement regarding the future management of NIS, her office said in a press release. It quoted her as saying that the agreement will take effect if and when Gazprom Neft and MOL reach a final deal on the sale and purchase of NIS.

The minister noted that the US Treasury’s OFAC on Tuesday granted NIS a short-term extension of its operating license through July 1. This matches the extension given to Hungary’s MOL to conclude negotiations for the acquisition of Gazprom Neft’s majority stake in the company.