Energy Minister: Talks on Sale of Oil and Gas Company NIS Progressing Well

Dubravka Djedovic Handanovic (BETAPHOTO/Ministarstvo ruradstva i energetike/Nenad Kostic)

Mining and Energy Minister Dubravka Djedovic Handanovic on June 9 said that the negotiations on the sale of the majority Russian stake in the oil and gas company Naftna Industrija Srbije (NIS) are progressing well and that “Serbia has not been, and nor will be a stumbling block in the transaction."

“The talks on NIS are progressing well. We have closed a large part of the issues, but the most important thing now is finalization of the negotiations between the seller and the buyer. Serbia has not been, nor will be a stumbling block in the transaction. Russian Gazprom Neft and Hungary’s MOL have ten days to finalize the talks on NIS, which needs to be approved by the US administration,” Djedovic Handanovic said, according to a release from her Ministry. 

“The clock is ticking, these are important topics, but all sides are trying to protect their own interests. It is most important that in this situation, accompanied by disturbances in the Middle East, we have managed to maintain security of supply and continued operation of the refinery in Pancevo, while citizens have not felt any consequences,” the minister stressed. In parallel, she said, talks are ongoing between Serbia and MOL on finding solutions acceptable to both sides. 

She also said that her Ministry has published for American companies a public call for expression of interest for participation in the procedure for the selection of a supplier who will be the partner for the implementation of the project pumped storage hydropower plant Djerdap 3, recalling that Serbia and the US have a strategic partnership in the energy sector since March 2025. The minister also said that Serbia is in the first phase of nuclear program consideration, adding it will take at least one more year to decide on appropriate technology.