Peter Szijjarto: MOL Seeks Majority Ownership in NIS

Minister of Mining and Energy Dubravka Djedovic Handanovic stated, following a meeting with Hungary’s Minister of Foreign Affairs and Trade Peter Szijjarto, that they discussed negotiations between the Russian owners of NIS and MOL, as well as several other potential partners.

15.01.2026. 12:28

Peter Szijjarto: MOL Seeks Majority Ownership in NIS
Foto: Tanjug/Dejan Živančević

The minister emphasized that the goal is for these negotiations to be concluded by the end of the week.

“We discussed the negotiations currently underway between the Russian owners of NIS and the Hungarian company MOL, as well as several other potential partners, and the aim is for these talks to be completed by the end of this week, with the signing of a binding agreement on the transfer of ownership, that is, the exit of Russian shareholders and the purchase of those shares by new owners,” Djedovic Handanovic said.

She added that, following this, a request will be submitted to the U.S. administration for an extension of the license in order to create conditions for the negotiations to continue and be finalized. The current deadline set by the U.S. administration is March 24.

“In the spirit of these discussions and future steps, we also talked about an intergovernmental agreement between Serbia and Hungary, which would be concluded in this context. We discussed some of the basic principles and foundations of that agreement, which is important both for Hungary and for us, and which will create the prerequisites to continue cooperation in the energy sector, to be partners in NIS in the future, and to be able to count on support and cooperation,” the minister said.

She noted that the Pancevo Refinery is expected to resume operations by the end of the week, as crude oil deliveries have been taking place this week. As she stated, Serbia can receive support from Hungary, and Hungary from Serbia.

“That agreement should also include investments in infrastructure development, especially in the oil sector,” Djedovic Handanovic said.

She added that they discussed the energy sector and all aspects of cooperation between the two countries.

She recalled that initiatives had previously been launched to build an oil pipeline connecting Serbia and Hungary, and that a tender has been announced for construction works on the Serbian section of the pipeline, specifically the stretch from Novi Sad to Algyo, approximately 113 kilometers long.

“We expect construction works to begin in mid-year or early autumn this year, so that after some 18 months we can be confident that the project in Serbia will be completed. At the same time, on the Hungarian side, they will continue with their procedures in order to create conditions for interconnection, that is, to secure a new source of crude oil supply, strengthen and increase our energy stability and security, primarily through new routes and diversification,” Djedovic Handanovic said.

She stated that the continuation of this project will be part of the intergovernmental agreement and added that work on the project will begin very soon, expressing hope that it will be successfully completed.

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