NIN: Most realistic option for Serbia to buy part of NIS ownership from Intelligence, minus one share

The problem with Naftna industrija Srbije (NIS), due to US sanctions, should be resolved by the New Year at the latest, and the most realistic option is for the state of Serbia to buy part of the 11.3% ownership of NIS, which is currently in the hands of Intelligence, practically a granddaughter of Gazprom, writes the NIN weekly, referring to its findings.

Since the Russian companies Intelligence and Gazpromneft currently own a total of 56.15% of NIS (11.3% and 44.85%), such a transaction would make Serbia and small shareholders the majority owners.

The Russian side also opposed this model in recent months, but it seems to have relented and agreed to it, but on the condition that Gazprom Intelligence would retain one share, and that a clause be included in the purchase agreement that the Russians have the right of first refusal when the situation calms down and sanctions on Russian companies are lifted.

The New Year as the date for the final solution to the problem also fits in with the stocks of oil and derivatives that Serbia and NIS have, so it should not have any consequences for either the operation of the refinery in Pancevo or the supply of derivatives to the market, writes NIN.

A less likely option is for Serbia to take over the management of NIS using a licensing model, and the least likely would involve a quick agreement on peace in Ukraine.

NIS a.d. Novi Sad

Naftna industrija Srbije ad Novi Sad

NIS

Intelligence

Gazprom

Gazpromneft

sanctions on NIS

sale of NIS