Montenegro has extended the deadline for its ongoing tender to lease fuel storage capacity for strategic petroleum reserves, moving the closing date from 27 October to 4 November. All other terms and conditions of the tender remain unchanged. According to the tender specifications, the Government is seeking to lease facilities with a capacity to store […]
Hungarian oil and gas company MOL announced that it has started restarting unaffected units at its Danube refinery after a major overnight fire. Fire crews remain on-site as safety inspections continue. The company confirmed that the fire is now under control, the area has been secured, and an investigation has been launched to determine the
MOL refinery fire under control as Hungary assesses impact on fuel supply Read More »
Serbian media report that the issue surrounding oil company NIS, caused by U.S. sanctions, is expected to be resolved by the end of the year. The most likely solution under consideration is for the Serbian state to acquire part of the 11.3% stake currently owned by the company Intelligence, a subsidiary of Gazprom. Currently, Russian
Serbia poised to buy Gazprom’s stake in NIS to resolve sanctions issue by year-end Read More »
Hungarian oil company MOL is set to expand its fuel storage terminal in Sremski Karlovci through a new round of investment. The expansion involves acquiring additional land from Dunav Oil and partnering with Naftachem, which will oversee construction and project execution. The move is expected to significantly increase MOL’s storage capacity in Serbia and reinforce
The European Parliament’s Committees on Industry and Energy, and on International Trade, have supported a draft law that introduces a complete ban on the import of Russian gas, including liquefied natural gas (LNG), starting from 1 January 2026. Limited exceptions would apply to existing short-term contracts until June 2026 and to long-term agreements until January
Serbian President Aleksandar Vučić has reportedly proposed to a visiting Russian delegation that Serbia could temporarily assume part of Russia’s ownership stake in the oil company NIS. According to local media, the idea is that once international conditions stabilize, the shares would be returned to Russian control. However, unofficial sources suggest that Moscow is not
Serbia proposes temporary takeover of Russian NIS stake amid U.S. sanctions Read More »
Fuel retailers in Serbia have significantly increased petroleum product imports to counter the effects of sanctions on the national oil company NIS. Tomislav Micovic, Secretary General of the Association of Oil Companies of Serbia, stated that companies had prepared in advance to secure supplies and maintain stability in the domestic fuel market. He noted that
In the first week of October, Brent oil futures for the Front-Month in the ICE market showed a consistent downward trend. On Monday, September 29, they reached their weekly maximum settlement price of $67.97 per barrel, which was already 3.1% lower than the previous Friday’s price. The decline continued until Thursday, October 2, when futures
Serbian oil company NIS has announced that it has not yet received a Special License from the US Treasury Department, which would allow its operations to continue without restrictions. Despite this, the company confirmed that it holds sufficient crude oil reserves for refining and is maintaining uninterrupted deliveries of all fuel types to its petrol
The Montenegrin Ministry of Oil and Gas has launched a third tender to select a contractor for the long-delayed overhaul of the state-owned oil storage tanks in the Adriatic port of Bar. The project is valued at 1.8 million euros, the same as in the two previous tenders, with the deadline for bid submissions set
Montenegro launches third tender for long-delayed overhaul of Bar oil storage facility Read More »
