MOL and Gazprom get extension for NIS stake sale talks
Serbian President Vucic says MOL and Gazprom will get a 15-day extension for NIS stake sale talks. The deal follows U.S. sanctions requiring Russian divestment.
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MOL HUNGARIAN OIL-SP ADR and Russian energy firms are set to receive a 15-day extension to finalize the sale of a 51.56% stake in Serbian oil company NIS. The delay follows the expiration of an initial June 16 deadline on Tuesday for the divestment of shares held by Gazprom Neft and Gazprom. Resolving the ownership structure is critical for NIS to exit the United States sanctions regime and secure its crude oil supply chain.
