Djedovic Handanovic: MOL and Gazprom Reach Agreement on NIS Contract

“What is also important is that Serbia has managed, through these negotiations, to improve its position compared to 2008, when our ownership stake remained below 30 percent. The goal is to increase Serbia’s ownership in the Oil Industry of Serbia by five percent in the future, reaching a number of shares that will allow us greater decision-making rights in the Shareholders’ Assembly, and above all to protect the interests of our citizens,” Minister Djedovic Handanovic said.

Regarding partners from the United Arab Emirates, she noted that they are also expected to be part of the future purchase and sale agreement.

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“MOL and Gazprom Neft have agreed on the fundamental provisions of the future purchase and sale agreement, which was a requirement of the U.S. administration, and in that form it will be submitted to the U.S. administration for consideration,” Djedovic Handanovic stated.

She added that further negotiations remain, with the deadline set for March 24, noting that a significant amount of work still lies ahead. The minister emphasized that Hungary’s MOL has committed not to shut down the Pancevo Oil Refinery.

“They have committed to maintaining the level of production we had previously, and, of course, to increasing it if necessary. Primarily in order to maintain the market share they held in previous years, given that NIS was the largest participant in the Serbian market,” Djedovic Handanovic said.

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