MOL receives US approval to continue NIS acquisition negotiations until May 22

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The US Treasury Department's Office of Foreign Assets Control (OFAC) has accepted MOL's application and extended the deadline for the negotiations on the purchase of majority shareholding of Petroleum Industry of Serbia, NIS, until 22 May 2026, the Hungarian company has announced.

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The license extension allows the parties to finalize the sales and purchase agreement and other transaction documents in accordance with the terms of the heads of agreement signed in January 2026, while also enabling US financial institutions to participate in the execution of the transaction, MOL said in a statement.

"Upon completion of the transaction, MOL will be able to acquire Gazprom Grou's 56.15 percent stake in the Serbian company NIS, thereby assuming significant shareholder responsibility and management rights in the company that operates the country's sole oil refinery (in Pancevo), which will further strengthen its presence in the Central and Southeastern European energy market," the statement said.

MOL added that the transaction is subject to, among other things, OFAC and Serbian government approvals.

(Telegraf.rs/Tanjug))