NIS submits application for new special license from OFAC

Naftna industrija Srbije (NIS) has submitted an application for a new special license from the Office of Foreign Assets Control (OFAC) of the US Treasury Department to enable the company to continue operating after June 16, when the previous license issued in April expires, NIS announced.

In its application, the company emphasized the importance of NIS’s regular operation for the orderly supply of the domestic market, especially in light of the situation on the global oil market, and pointed to the advanced negotiations on changing the ownership structure of NIS, for which OFAC has extended the license on several occasions, the statement says.

As a reminder, at the end of last week, MOL also received permission to continue negotiations on the purchase of NIS until June 16, and as it was indicated at the time, this extension allows for the finalization of transaction documentation.

NIS a.d. Novi Sad

MOL Hungarian Oil and Gas Budapest

Naftna industrija Srbije

MOL Group

OFAC

sale of NIS

operating license