NIS receives license, refinery to continue to operate – Oil from Janaf headed for Serbia

Naftna industrija Srbije (NIS) received a license from the US OFAC to continue operations until January 23. This also means that the refinery in Pancevo will be able to continue its work after 36 days, Minister of Mining and Energy Dubravka Djedovic Handanovic announced.

According to unofficial RTS information, the negotiations between Russian Gazprom and the Hungarian company MOL on the purchase of the Russian majority stake in NIS, due to which the USA imposed sanctions on that company, could be completed by January 23, Beta reported.

The RTS source states that the decision to extend the license followed the talks between Serbian President Aleksandar Vucic and representatives of the US Treasury Department’s Office of Foreign Assets Control (OFAC) and the State Department, and Hungarian Prime Minister Viktor Orban.

Last week, on December 24, OFAC issued a license to NIS, which extended the deadline for negotiations on the sale of the Russian share until March 24. The Russians are negotiating the sale of their stake with the Hungarian company MOL.

American sanctions against NIS came into effect on October 9. The day before, the flow of crude oil to Serbia through the Adriatic pipeline was suspended, and on December 2, the process of suspending production facilities began at the Pancevo refinery due to the lack of crude oil for processing. Since then, Serbia has been relying on state reserves and the import of derivatives.

The Adriatic Pipeline (JANAF) also announced that the US administration had issued a license for the continuation of oil transportation to NIS, which would be valid until January 23, 2026.

– JANAF d.d. has, in cooperation with the Government of the Republic of Croatia, obtained a license that authorizes until January 23, 2026, participation in activities that are usual and necessary for the transportation of oil for the execution of the Contract on the transportation of crude oil concluded with the company NIS a.d. – it is stated in the announcement.

JANAF welcomed the decision of the Office of Foreign Assets Control (OFAC) and pointed out that it was “fully ready immediately to ensure smooth transportation and supply of crude oil to the Pancevo refinery.”

– We also hope for a near completion of negotiations between NIS and potential partners on the purchase of the Russian share in that company, which would fulfill the conditions prescribed by the sanctions regime – announced JANAF.

The Government of Croatia also reported on the X network about obtaining a license, stating that it referred to the continued transportation of non-Russian oil to NIS.

– This will enable further supply exclusively of oil of non-Russian origin – stated the Government of Croatia.

NIS a.d. Novi Sad

NIS a.d. Petrol Rafinerija nafte Pančevo

Ministarstvo rudarstva i energetike Republike Srbije

Naftna industrija Srbije

NIS

Ministry of Energy

Pančevo Oil Refinery

Dubravka Đedović Handanović

OFAC

Janaf

work license

extension

oil

non Russian oil

import of oil

sanctions