- MOL aims to finalize the acquisition of a 56.15% stake in NIS by March 2026.
- The Pancevo refinery, operational since 1968, has a capacity of 4.8 million tonnes/year.
- NIS holds 173 million barrels of oil equivalent 2P reserves.
- Regulatory approvals, including OFAC, are required for transaction completion.
Transaction Overview
MOL Group has signed a binding Heads of Agreement with Gazprom Neft to acquire a 56.15% stake in Naftna Industrija Srbije (NIS). This acquisition will give MOL significant shareholder responsibilities and control rights in Serbia's only refinery, enhancing its presence in the Central and Southeastern European energy market.
Regulatory Approvals
The transaction is subject to conditions outlined in the Heads of Agreement, including obtaining necessary regulatory approvals such as those from OFAC and other governmental bodies in Serbia. The parties aim to finalize the sale and purchase agreement by March 2026.
Pancevo Refinery
The Pancevo refinery, operational since 1968, plays a crucial role in Serbia's energy supply. It has undergone modernization over the past 15 years and has a refining capacity of nearly 4.8 million tonnes per year, producing Euro-5 quality diesel and gasoline, liquefied natural gas, petrochemical products, heating oil, bitumen, and other petroleum products.
NIS Asset Portfolio
NIS operates a retail network and holds an exploration and production portfolio. The company has approximately 173 million barrels of oil equivalent 2P reserves, with daily crude and gas production in Serbia exceeding 20,000 barrels of oil equivalent per day. It also holds exploration licenses in Romania and Bosnia and Herzegovina.
