MOL to acquire Gazprom Neft’s stake in Serbian refiner NIS

Core Viewpoint - MOL Group has signed a heads of agreement with Gazprom Neft to acquire a 56.15% stake in Naftna Industrija Srbije, enhancing its control over Serbia's only oil refinery and expanding its operations in the central and south-eastern European energy market [1][2]. Group 1: Acquisition Details - The acquisition will ensure sustained operations at the Pancevo refinery, providing a consistent energy supply to the region [2]. - The deal's completion is contingent upon fulfilling conditions outlined in the HoA, including necessary regulatory approvals from the US and Serbian governments, with a target deadline of March 31, 2026, for finalizing the sales and purchase agreement [5]. Group 2: Strategic Implications - MOL Group aims to strengthen energy security in Serbia and the region through collaboration with local refineries and strong partners [3]. - The Pancevo refinery, operational since 1968, has a refining capacity of approximately 4.8 million tonnes per year and produces petroleum products that meet EU standards [4]. Group 3: Future Collaborations - MOL Group is in discussions with ADNOC from the UAE regarding a potential minority stake in NIS, while maintaining majority ownership [4].