oil

Europe: Brent oil steady, TTF gas rises and EU CO₂ prices fluctuate in late January

During the week of January 19, Brent oil futures for the Front Month on the ICE market remained largely stable compared to the previous week. The week opened with a settlement price of $63.94/bbl, which also marked the weekly minimum, 0.3% below the previous Friday’s settlement. Prices rose over the next two days to $65.24/bbl, […]

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Montenegro to refurbish oil storage tanks at Port of Bar to meet EU reserve obligations

Montenegro will begin refurbishing oil storage tanks at the Port of Bar in February, following the signing of a contract between the Ministry of Energy and Mining and a consortium led by Croatia’s S.A.K.Z., together with several local companies. The works, valued at around €1.74 million excluding VAT, are expected to last nine months. The

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Serbia: MOL to acquire majority stake in NIS in €900M–€1B deal

Hungarian energy group MOL is set to acquire a majority stake in Serbian oil company NIS, with the transaction estimated at €900 million to €1 billion, according to Serbian President Aleksandar Vučić. The deal comes as US authorities temporarily extended special operating permissions for NIS, which remains under sanctions due to its Russian ownership structure.

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Serbia seeks to strengthen control of NIS amid ownership restructuring with MOL and GazpromNeft

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

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Serbia: US extends NIS operating license until 20 February under strict conditions

Serbian oil company NIS has been granted additional time to continue its operations after the United States extended its operating authorization until 20 February, according to the Office of Foreign Assets Control (OFAC). The temporary approval allows NIS to remain active but only under a strictly defined and restrictive framework. US authorities clarified that all

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Serbia: UAE’s ADNOC enters the EU oil market through NIS as a minority partner of MOL

Hungarian energy major MOL Group and the Abu Dhabi National Oil Company (ADNOC) are actively involved in negotiations that could reshape the energy landscape of Central and Southeastern Europe — but the core of the immediate negotiations is centered on MOL’s planned acquisition of the Russian-owned stake in Serbia’s NIS (Naftna Industrija Srbije), with ADNOC potentially joining as a minority investor in that broader

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Region: MOL-GazpromNeft deal could restore NIS supplies, Rijeka refinery safe for now

Croatian Prime Minister Andrej Plenkovic stated that the planned transaction between Hungarian MOL and Russian GazpromNeft over the sale of a majority stake in Serbian NIS is expected to have a positive short-term impact on the pipeline operator JANAF. However, he cautioned that the longer-term effects remain uncertain and will require ongoing dialogue with MOL

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Serbia seeks US approval to ensure NIS operations amid MOL acquisition talks

Serbia has taken formal steps to secure the continued operation of NIS amid ongoing negotiations over a potential ownership change involving GazpromNeft and Hungary’s MOL Group. Minister of Mining and Energy Dubravka Đedović confirmed that NIS has submitted a request to the US Office of Foreign Assets Control (OFAC) seeking permission to maintain normal business

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Hungary: MOL Group moves to acquire controlling stake in NIS, expanding regional energy footprint

Hungary’s MOL Group has taken a major step toward reshaping the energy landscape in central and southeastern Europe by reaching a binding preliminary agreement to acquire a 56.15% controlling stake in Serbian oil company NIS from Russian GazpromNeft. Once all conditions are met, MOL would assume dominant shareholder rights over the company. If finalized, the

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Europe: Brent, TTF gas and EU carbon prices rise amid geopolitical risks and cold weather forecasts

During the third week of January, Brent oil futures for the Front Month on the ICE market continued the upward trend that began at the end of the previous week, reaching their weekly maximum settlement price of $66.52/bbl on Tuesday, January 14. According to AleaSoft Energy Forecasting, this was the highest Brent Front Month price

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