New Chairman and Deputy Chairman Appointed to NIS Board of Directors – Selection of Two Independent Members Underway to Meet OFAC Requirements

At the latest session of the Board of Directors of Naftna Industrija Srbije (NIS), attended by Serbia’s Minister of Mining and Energy, Dubravka Djedović Handanovic, and Gazprom Neft Executive Board Chairman, Alexander Dyukov, Aleksey Urusov was appointed as the new Chairman of the NIS Board of Directors. Dragutin Matanovic was named Deputy Chairman—a newly established position filled by a board member appointed by the Government of Serbia, according to a statement from the Ministry of Mining and Energy.

Additionally, the process of appointing two independent board members is currently underway, in alignment with the requirements set by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), regarding corporate governance practices.

NIS is a strategic energy company for both Serbia and the region. Strengthening its central governance body is seen as a step toward enhancing operational stability, the Ministry emphasized.

“NIS plays a critical role in securing our domestic supply of oil and petroleum products. Over the past six months, the company has faced significant challenges related to potential U.S. sanctions. It is vital to maintain active dialogue and implement concrete measures to reduce business uncertainty, safeguard supply chain stability and overall energy security, and facilitate the removal of NIS from OFAC’s sanctions list,” said Minister Djedovic Handanovic.

She also highlighted the company’s strategic importance in the ongoing Serbia-Hungary oil pipeline project.

“The Serbia–Hungary oil pipeline is a strategic infrastructure initiative, primarily intended to secure an alternative crude oil supply route for NIS. It is essential that NIS actively participates and provides support to ensure the project proceeds according to schedule and to bolster Serbia’s and the region’s energy security,” she stated.

The Minister further underlined that the stabilization of operations and financial consolidation of Petrohemija must remain a top priority in the coming period.

She concluded by noting that the Serbian government is interested in co-developing the Plandiste wind farm in partnership with Hungary’s MET Group, as part of its commitment to expanding renewable energy capacity in line with its energy transition strategy.

NIS a.d. Novi Sad

Ministarstvo rudarstva i energetike Republike Srbije

HIP-Petrohemija a.d. Pančevo

NIS

OFAC

Dubravka Djedovic Handanovic

Aleksandar Dyukov

Alexey Urusov

Dragutin Matanovic

Plandiste wind farm

NIS board of directors

introduction of NIS sanctions

postponement of NIS sanctions