oil

Serbia: Talks on NIS progress amid US sanctions concerns

Russian Foreign Minister Sergei Lavrov stated that discussions regarding the future of Serbian oil company NIS are actively progressing. He criticized US sanctions policy, arguing that unilateral restrictions and the use of the dollar as leverage undermine the global framework the United States once championed. Lavrov highlighted the bilateral agreement between Serbia and Russia, emphasizing […]

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US extends deadline for sale of Lukoil’s foreign assets amid global interest

The United States has extended the deadline for negotiations regarding the sale of Lukoil’s foreign assets. Under a general license issued by the Office of Foreign Assets Control (OFAC), purchase agreements for the Russian company’s international holdings can now be finalized until 17 January 2026. This extension applies solely to transactions that explicitly require separate

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Montenegro launches €11 million tender to build mandatory oil reserves

The Montenegrin Hydrocarbons Administration has issued a tender worth 11 million euros for the purchase of 16,500 metric tons (approximately 19.6 million liters) of fuel to initiate the country’s mandatory oil reserves. The tender calls for EN 590-grade diesel with strict conditions: it must be produced after 21 January 2026 and cannot be derived from

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Croatia: Oil company INA confirms new Northern Adriatic gas reserves boosting domestic production

Croatian oil company INA has confirmed new natural gas reserves in the Northern Adriatic development area, a discovery that could significantly strengthen Croatia’s domestic gas output. The find follows the drilling of the first of two planned development wells from the existing IKA-A production platform, using CROSCO’s Labin jack-up rig. Drilling of the IKA A-1

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The turning point for NIS: What a €2.5 million loss reveals about Serbia’s oil and gas future

For years, Naftna industrija Srbije (NIS) occupied a unique position in Serbia’s economy. It was not merely the country’s dominant oil and gas company; it was a symbol of operational continuity, consistent profitability and strategic relevance. Its earnings supported the state budget, underpinned public finances and served as a buffer in times of economic uncertainty.

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European energy markets: Brent and TTF gas prices fluctuate amid Ukraine talks, CO₂ futures stay below €85/t

In the first week of December, Brent oil Front Month futures on the ICE market reached their weekly minimum settlement price of $62.45/bbl on Tuesday, December 2, the lowest level since October 22. Prices then recovered, with the weekly maximum hitting $63.75/bbl on Friday, December 5, 0.9% higher than the previous Friday. After a 2.0%

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Serbia: ADNOC emerges as leading bidder for sanctioned Russian stake in NIS

Abu Dhabi National Oil Company (ADNOC) has reportedly emerged as the leading contender to acquire the 56.15 % stake held by Russian companies in Serbian oil company NIS, which is currently under US sanctions. Although ADNOC is viewed as the frontrunner to take over Serbia’s only refinery, NIS continues discussions with other potential buyers, including

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Financial foundations of Serbia’s oil downstream sector: Refinery economics, wholesale spreads, retail margins and the transition beyond petroleum

The financial architecture of Serbia’s downstream oil sector is shaped by a combination of operational cost structures, geopolitical exposure and shifting regional logistics. The profitability of each segment—refining, wholesale distribution and retail—depends not only on global price curves but on how Serbia’s supply chain absorbs or amplifies external shocks. Understanding these dynamics is essential for

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