Serbia is positioning itself to regain greater influence over oil company NIS as part of a broader ownership reconfiguration involving GazpromNeft and Hungary’s MOL. Minister of Mining and Energy Dubravka Đedović stated that all assets majority-owned by GazpromNeft, including Petrohemija, will be addressed within the framework of a future purchase agreement for NIS.
She explained that Serbia’s next move depends on regulatory approvals. Only after the transaction between MOL and GazpromNeft receives clearance from the US Office of Foreign Assets Control (OFAC) and other relevant authorities would the Serbian state be able to acquire an additional 5% stake from MOL. This increase would strengthen Serbia’s shareholder position, giving it the ability to block decisions deemed contrary to national interests.
According to Minister Đedović, the move would not only improve Serbia’s financial returns from NIS but also serve as a strategic correction of past policy decisions. She recalled that in 2008, Serbia voluntarily reduced its influence over the company, a decision later considered unfavorable. The planned stake increase would restore a stronger level of control for the first time since then.
The prospective ownership changes could also involve a new international partner. Minister Đedović confirmed that UAE-based ADNOC has expressed interest in acquiring a minority stake from MOL. While noting that such a transaction would be a private agreement between companies, she highlighted that Serbia views ADNOC’s potential involvement positively.
Support for ADNOC stems from Serbia’s strong bilateral ties with the UAE and the company’s global standing. As one of the world’s leading oil producers and a member of OPEC, ADNOC brings extensive industry expertise and international influence, which Serbian officials believe could further strengthen NIS’s position in the regional energy market.