Petrohemija also goes to MOL: Serbia to buy 5 percent of NIS shares from Hungarians

Minister of Mining and Energy Dubravka Djedovic Handanovic has stated that everything that is majority owned by Gazprom Neft, including Petrohemija, will be included in the agreement of the future sales contract for NIS.

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Djedovic Handanovic added that only after the OFAC and other regulators approve the contract,which has been agreed upon by the Hungarian MOL and the Russian Gazprom Neft, Serbia will be able to buy an additional 5 percent of shares from MOL and thus increase the ownership stake that will allow it to block decisions that are not in its interest.

"So, we will get more, strengthen our position that way. All this, finally, for the first time since 2008 when we voluntarily renounced greater influence, which turned out to be a bad move," Djedovic Handanovic told Politika.

She also stated that a company from the United Arab Emirates, ADNOC, intends to buy a percentage from MOL and added that this will be an agreement between two private companies that Serbia supports because it has excellent relations with the UAE thanks to, above all, President Aleksandar Vucic.

"Let's not forget that ADNOC is a member of OPEC and the world's leading oil production company with enormous experience and global influence in the oil sector," said Djedovic Handanovic.

The minister confirmed on Wednesday that the Government of Serbia had sent a letter to the US administration - which has introduced sanctions against NIS - in which it supported NIS' request for extension of the operating license and a possible transaction between MOL and Gazprom Neft, and that a response from Washington is expected by the end of the week.

(Telegraf.rs/Tanjug)