The Hungarian oil company MOL announced that it will retain the Pancevo refinery in the long term if it becomes the majority owner of the Oil Industry of Serbia (NIS).
23.04.2026. 16:21
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MOL stated that the Pancevo Refinery plays a very important strategic role in ensuring stable and uninterrupted energy supply, RTS reports.
"The goal of MOL is to further strengthen security of supply in Serbia and the region, while also leveraging synergies between refineries. If the transaction is successfully completed, we plan to manage this facility over the long term", the Hungarian company said in response to a question from Forbes.
MOL noted that negotiations regarding NIS are continuing in line with the previously signed framework agreement and recalled that the completion of the transaction requires approval from the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury, as well as the relevant authorities in Serbia.
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AutorIt is worth recalling that Minister of Mining and Energy Dubravka Djedovic Handanovic stated that meetings had been held with MOL’s operational and legal teams regarding the takeover of the Russian stake in NIS, that a number of issues had been resolved, and that she expects 90% of positions to be aligned by the end of the week.
The minister emphasized that it is important for talks with MOL to continue and noted that she also met on Saturday with MOL Group CEO Zsolt Hernadi.
"I expect that by the end of the week we will have around 90 percent of positions aligned. I assume that a few open issues will remain for discussion at a higher level", Djedovic Handanovic concluded.
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