The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has extended the operating license of Serbia’s Oil Industry of Serbia (NIS) for another 30 days.
The new license allows NIS to continue its operations, including the processing of crude oil.
“We have just been informed by OFAC that the operating license allowing NIS to continue its operations has been extended for another 30 days, until July 31. This means that the Pančevo Oil Refinery will continue processing crude oil, which is especially important amid the global energy crisis,” Minister of Mining and Energy Dubravka Đedović Handanović wrote on Instagram.
To recall, on June 26, NIS submitted a new request to the U.S. Department of the Treasury seeking an extension of its operating license. The company stated that extending the permit was essential to ensuring the stable supply of the Serbian market.
It should also be noted that the U.S. administration extended the license allowing Gazprom Neft and Hungary’s MOL Group to negotiate the sale of the Russian majority stake in the company by only 15 days. According to RTS, that authorization also expires on July 1.
On June 16, Minister of Mining and Energy Dubravka Đedović Handanović signed a shareholders’ agreement with the MOL Group regarding the future management of Oil Industry of Serbia (NIS). The agreement will take effect if MOL and Gazprom Neft reach an agreement and the transaction is approved by OFAC.
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Source: RTS, Foto: Printscreen Instagram