MOL Group is acquiring a 56.15% stake in Serbia's Naftna Industrija Srbije from Gazprom Neft, strengthening its position in the Central and Southeastern European energy market.

Target Information

MOL Group has signed a binding Heads of Agreement with Gazprom Neft to acquire a 56.15% stake in Naftna Industrija Srbije (NIS), Serbia’s predominant oil corporation. Upon successful completion of the transaction, MOL will gain significant shareholder responsibilities and control within a company that operates the country's only refinery, located in Pancevo. In addition to its refinery, NIS boasts an extensive retail network and a diverse exploration and production portfolio.

Industry Overview

The energy sector in Serbia plays a vital role in the country's economy, heavily reliant on its refining and distribution capabilities. With a rich history of operating the Pancevo refinery since 1968, NIS has undergone numerous modernization phases over the past fifteen years to enhance its operational efficiencies. Currently, the refinery is capable of processing nearly 4.8 million tonnes of crude oil annually, producing Euro-5 compliant diesel and gasoline, aligning it with European Union standards.

Furthermore, the regional energy landscape in Central and Southeastern Europe is undergoing transformative changes, with national governments prioritizing energy security and sustainability. The cooperation among local r