Djedovic Handanovic: US extends license for NIS to continue operations until October 30

The Office of Foreign Assets Control (OFAC) of the US Treasury Department has extended the license allowing Petroleum Industry of Serbia, NIS, to continue work until October 30, which enables the company's continued operations as well as those of the refinery in Pancevo.

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"We received another extension of the operating license from the US OFAC for Petroleum Industry of Serbia, which is good news for Serbia, especially considering the start of the winter season. The situation is still very challenging, both due to geopolitical circumstances and the rise in energy prices, as well as due to difficult logistical conditions, the low water level on the Danube and problems with imports of oil derivatives," said Minister of Energy Dubravka Djedovic Handanovic, and added:

"That is why we reacted by releasing 5,000 tons of diesel from state reserves to the market, along with a reduction in excise duties we have been applying for months. The new extension of the license (for NIS) for an additional 30 days allows the oil refinery in Pancevo to continue to work and produce the maximum amount of oil derivatives - diesel, gasoline, kerosene and fuel oil, which is especially important for us in the upcoming heating season."

She added that talks between OFAC and MOL about the transaction are continuing, which will require some more time.

"We have completed our part of work when it comes to the agreement between the shareholders, if MOL takes over NIS and the United States approves it. Until then, we will continue to undertake everything necessary to ensure full supply of the market, keep prices under control and be ready to react in case of any disturbances, as we have done so far," said the minister.

(Telegraf.rs)