RTS: NIS’s License Extended Until August 28

Oil and gas company NIS (BETAPHOTO/EMIL VAS)

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has extended the operating license of the Oil Industry of Serbia (NIS) until August 28, the Serbian RTS public broadcaster reported on July 31, citing its sources.

The new license allows NIS to continue operations, including processing crude oil. Minister of Mining and Energy Dubravka Djedovic-Handanovic earlier stated there are indications that NIS would receive a license from the U.S. administration allowing it to continue its operations, and that an official letter from the U.S. administration is expected to formalize the decision, the RTS reported.

OFAC  previously extended NIS's operating license until July 31. NIS had previously submitted a request to OFAC for another extension. OFAC is also expected to respond to two other requests -  MOL's to resume negotiations with Gazprom Neft on the sale of Russia’s majority stake in NIS, and JANAF's to deliver oil to the company.