Hungary’s MOL to acquire majority stake in Serbia’s NIS

Serbia

BELGRADE, January 20, 2026 – Hungary’s MOL Group has signed a binding agreement to acquire a 56.15% stake in Serbia’s NIS from Gazprom Neft, the company said on Monday.

The deal gives MOL control of Serbia’s sole oil refinery in Pancevo along with NIS’s retail and E&P assets. Completion is subject to regulatory approvals including OFAC clearance, and the parties aim to sign the sale and purchase agreement by March 31, 2026.

NIS’s refinery has a processing capacity of 4.8 million tonnes per year and produces Euro-5 diesel, petrol, LNG, petrochemicals and other petroleum products. The company operates nearly 400 service stations across Serbia, Romania and Bosnia and Herzegovina and holds 173 million boe of 2P reserves, with daily production exceeding 20,000 boepd.

MOL is also in talks with ADNOC to join as a minority shareholder in NIS while retaining majority ownership. “We are ready for the task and will continue discussions with our partners,” MOL chairman and CEO Zsolt Hernádi said.

MOL Group is a leading integrated oil and gas company in Central and Eastern Europe, with upstream and downstream assets across more than 30 countries. In Serbia, MOL aims to reinforce regional energy security and expand its refining and retail footprint.