How would ADNOC help MOL when it comes to the purchase of NIS and how much does another five percent of ownership mean for Serbia?

Energy expert Zeljko Markovic, speaking about the “Emirates fund” in the context of negotiations between MOL and Gazpromneft on the purchase of Naftna industrija Srbije, points out that it is possible that the Arab ADNOC will provide some support to the Hungarian oil company. He also explained what it would mean if Serbia had a 34% stake in NIS and how it would affect fuel prices.

In the context of negotiations between the Hungarian MOL and NIS, the Arab oil company ADNOC was also mentioned as a potential buyer, but also - a fund from the Emirates.

– It is still an enigma (what exactly is the aforementioned fund). We have heard that MOL is talking to ADNOC about support. It could be financial support or a joint agreement. ADNOC is also a minority owner of OMV. There could be other contracts and cooperation – explained the energy expert.

Hungarian Foreign Minister Peter Szijjarto said that they had “made fairly rapid progress in negotiations on the sale of the Russian stake.”

– We are a little more certain that MOL is seriously negotiating with Gazprom. An agreement has still not been reached, we also heard that from the president, that a document is expected to be issued that defines the main terms and conditions of the future contract that would complete the acquisition. This should be presented to OFAC and then we will move on – he explained to N1.

Serbia currently has a 29% ownership in NIS, and Vucic said that we could buy another five percent. This would make Serbia have a 34% stake in NIS.

Markovic explains what this would mean.

– According to our Companies Act, for some decisions you need a majority in the Parliament. If by buying five percent you would have 34% of the shares, you would have more than one third. If the majority owner decides to sell parts of the company, to change the legal name, to change from a JSC to an LLC, they cannot do so unless they have a two-thirds majority - that is, Serbia’s consent for the decisions – he pointed out.

NIS a.d. Novi Sad

MOL

Gazpromneft

NIS

ADNOC

OFAC

Željko Marković

Peter Szijjarto

purchase of NIS

Serbia Hungary oil pipeline

construction of Serbia Hungary oil pipeline

Janaf