- MOL to acquire 56.15% of NIS from Gazprom Neft, pending regulatory approvals.
- Transaction completion targeted by 31 March 2026.
- Pancevo refinery produces Euro-5 diesel, gasoline, LNG, petrochemicals, heating oil, bitumen.
- NIS holds 173 million barrels of oil equivalent 2P reserves, with daily production over 20,000 barrels.
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 and Timeline
The transaction is subject to regulatory approvals, including those from OFAC and Serbian authorities. The parties aim to finalize the sale and purchase agreement by 31 March 2026.
Pancevo Refinery Details
The Pancevo refinery, operational since 1968, has a refining capacity of nearly 4.8 million tonnes per year. It produces Euro-5 quality diesel and gasoline, liquefied natural gas, petrochemical products, heating oil, bitumen, and other petroleum products.
NIS Asset Portfolio
NIS has a significant asset portfolio in exploration and production, with approximately 173 million barrels of oil equivalent 2P reserves. The company's daily crude and gas production in Serbia exceeds 20,000 barrels of oil equivalent per day. NIS also holds exploration licenses in Romania and Bosnia and Herzegovina.
