The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury has extended the operating license for Naftna industrija Srbije until April 17, 2026. This was announced by the Ministry of Mining and Energy of Serbia.
“The extension of the license for nearly a month is particularly important at a time when oil prices are rising on exchanges day by day. The refinery in Pančevo continues to operate and supply will remain reliable. Citizens should not worry, there is no need to create stockpiles, we have sufficient petroleum products,” said Minister of Mining and Energy Dubravka Đedović Handanović in a statement.
It is added that there have been no shortages on the market despite the fact that NIS has been operating under difficult conditions for more than a year, as well as the fact that crude oil had not been arriving in Serbia for almost 100 days.
“The situation is now further complicated by the conflict in the Middle East. Around the world, and especially in Europe, a series of measures are being adopted to maintain stable oil supply. We have also reduced excise duties by 20 percent and made a decision to release 40,000 tons of euro diesel from reserves, but we will implement other measures as well to keep supply stable,” the minister stated in the announcement.
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Source: Forbes; Foto: Naftna Industrija Srbije