oil

Serbian oil company NIS seeks new extension of US sanctions suspension

Serbian oil company NIS has submitted an updated request to US authorities seeking another extension of the suspension of sanctions. The company’s current authorization, which allows it to continue operations despite the restrictions, is set to expire on 8 October. NIS is requesting a new license to maintain its activities beyond that date. The sanctions […]

Serbian oil company NIS seeks new extension of US sanctions suspension Read More »

Hungary and Croatia move to resolve tensions over oil supply, begin pipeline negotiations

Tensions between Hungary and Croatia appear to be easing after a period of sharp accusations, during which Croatian authorities were accused of benefiting from the war in Ukraine and sanctions on Russia. State-owned Croatian oil pipeline operator JANAF confirmed that Hungarian company MOL will send representatives to Zagreb next week to start negotiations on importing

Hungary and Croatia move to resolve tensions over oil supply, begin pipeline negotiations Read More »

Serbia: Russian negotiators propose ownership and supply changes to shield NIS from US sanctions

As US sanctions targeting Serbian Russian-owned oil company NIS approach their 8 October enforcement date, Russian negotiators have put forward several proposals aimed at avoiding restrictions, according to Serbian media reports. One proposal reportedly involves transferring the 11.3 percent stake in NIS, recently moved by Gazprom to its subsidiary Intelligence, to an American company. This

Serbia: Russian negotiators propose ownership and supply changes to shield NIS from US sanctions Read More »

Croatia: US sanctions targeting NIS prompt JANAF to secure licenses for continued crude oil transport

Earlier this year, the U.S. Department of the Treasury introduced sanctions targeting Russia’s energy sector, which are now being applied to Serbian oil company NIS. This affects NIS’s crude oil transport agreement with Croatian pipeline operator JANAF, valid from 1 January 2024 to 31 December 2026. Under the contract, NIS reserved pipeline capacity under a

Croatia: US sanctions targeting NIS prompt JANAF to secure licenses for continued crude oil transport Read More »

Serbia seeks solution to US sanctions on national oil company NIS

Finance Minister Sinisa Mali stated that discussions are ongoing with both Russian and US representatives to find a solution that safeguards the interests of Serbian citizens. He stressed that Serbia did not trigger these sanctions and must ensure that its energy security is not compromised. The government’s priority, according to Minister Mali, is to prevent

Serbia seeks solution to US sanctions on national oil company NIS Read More »

Europe: Brent oil, TTF gas and CO₂ futures show mixed trends in late September

In the fourth week of September, Brent oil futures for the Front-Month on the ICE market saw their weekly minimum settlement price of $66.57 per barrel on Monday, September 22. Prices rose throughout the week, reaching a weekly maximum settlement of $70.13 per barrel on Friday, September 26. This represented a 5.2% increase compared to

Europe: Brent oil, TTF gas and CO₂ futures show mixed trends in late September Read More »

Serbia: NIS requests U.S. license to delay sanctions and removal from SDN list

Serbian oil company NIS has confirmed that it submitted a new request to the U.S. Treasury Department for a special license to delay the full implementation of sanctions, allowing the company to continue operations. In addition, NIS filed a separate application to be removed from the Specially Designated Nationals (SDN) list, a process described as

Serbia: NIS requests U.S. license to delay sanctions and removal from SDN list Read More »

Region: EU monitors JANAF pipeline amid Croatia-Hungary dispute over oil supplies

The European Commission (EC) is closely monitoring the ongoing capacity tests on the Croatian JANAF oil pipeline but has refrained from commenting on the dispute between Croatia and Hungary, according to spokesperson Anna-Kaisa Itkonen. She stated that the tests are still underway and that the Commission remains in contact with the member states, but will

Region: EU monitors JANAF pipeline amid Croatia-Hungary dispute over oil supplies Read More »

Bulgaria: Electricity, gas and fuel consumption rise in July 2025 amid mixed production trends

According to the Bulgarian National Statistical Institute, electricity production in July 2025 rose by 8.1% compared to June, reaching 3,270 GWh. Electricity consumption also increased by 15.1% month-on-month, totaling 2,766 GWh. Natural gas consumption in July 2025 grew by 7.4%, reaching 159 million cubic meters, while production remained steady at 1 million cubic meters. Compared

Bulgaria: Electricity, gas and fuel consumption rise in July 2025 amid mixed production trends Read More »

Scroll to Top