What is the deadline for Serbia to submit its final proposal to MOL regarding the NIS acquisition, and what is the Serbian government's key condition for approval?

Serbia will submit its final proposal to MOL by the end of the day on Friday, as stated by Energy Minister Dubravka Djedovic Handanovic. The most important issue for the Serbian government is 'the future operation of the refinery,' which she identified as the central open issue in ongoing negotiations with MOL.

Why must the Serbian government approve MOL's acquisition of NIS, and what stake does it currently hold in the company?

The Serbian government must approve the sale because it holds a 29.9% stake in NIS, and the transaction requires its consent. This requirement arises despite the deal being between MOL and Russian shareholders Gazprom Neft and Gazprom, who agreed in January to sell their combined 56% majority stake in NIS to MOL following U.S. sanctions pressure.

Serbia to Submit Final Proposal on NIS Acquisition to Hungary's MOL, Energy Minister Says

May 15, 2026

Serbia will submit its final proposal to Hungary's MOL regarding the takeover of NIS, the Balkan nation's sole refinery, following U.S.-mandated divestment of Russian shares. Negotiations focus on refinery operations and increasing the state's ownership stake.

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