As the United States, which imposed sanctions on Serbian oil company NIS, rejected a proposition for a change in management, difficult decisions are ahead, according to Minister of Mining and Energy Dubravka Đedović Handanović. The government in Belgrade is holding an emergency meeting tomorrow, she added and pointed out that it needs to decide whether […]
Potential European and Asian investors will speak about a takeover with Russian owners of Serbian oil refiner and service station chain operator NIS, President of Serbia Aleksandar Vučić said. If the talks fail, Serbia “should offer a better price… whatever it costs” to avoid “nationalization, confiscation and property usurpation,” he stressed, but also warned that […]
Romania wants to take control of Lukoil’s operations to prevent an imminent freeze from the sanctions imposed by the United States. Bulgaria is already putting the Russian company’s refinery, the largest in the Balkans, under a trusteeship. Serbia announced that similar measures have been proposed to exempt Gazprom-owned NIS and its refinery, the only one […]
Russian oil producer Lukoil said it intends to sell its international assets due to US sanctions and that it has already begun reviewing bids. The company’s foreign subsidiaries include oil refineries in Bulgaria and Romania, as well as fuel retail chains across Southeast Europe. The sale of Lukoil’s international assets is being carried out under […]
Minister of Economy Ante Šušnjar has said that Croatia is prepared to acquire Russian-owned oil company NIS in Serbia, which came under US sanctions today. Croatian state-owned oil pipeline operator Jadranski naftovod (JANAF) relies heavily on deliveries to NIS, and Šušnjar believes the acquisition would benefit both Croatia and Serbia. The US sanctions against the […]
For NIS in Serbia, doing business will become exceptionally difficult from tomorrow, when the United States imposes sanctions, starting with payment systems. The same goes for any enterprise cooperating with the oil refiner and distributor, majority owned by Russia’s Gazprom Neft and another firm controlled by Gazprom. Nine months after the US announced sanctions against […]
The Government of Serbia is interested in taking over the Plandište wind farm project from oil and gas company Naftna Industrija Srbije and renewable energy firm MET Renewables. They have been jointly developing the project for over ten years. The Plandište project, with a capacity of 102 MW, was a topic at the latest meeting […]
Iran’s gas plans for Caucasus Iran says it is preparing to triple gas exports to Armenia, start exports to Georgia and store its gas in Azerbaijan’s underground facilities. For now, Iran barters about 1mn m3/d of gas with Armenian power at 1 m3 per 3kWh. Iran said this week that the volume of the gas-to-power […]
Russian energy giant Gazprom has said it signed a memorandum with Italy’s Edison SpA and Greece’s DEPA SA on gas deliveries. In a press statement, it has explained that according to the memorandum of understanding signed in Rome, gas will be delivered under the Black Sea “via third countries” to Greece and will be transported […]