economy
March 20, 2026
Marković: License extension crucial for Refinery operations, awaiting MOL and Gazprom Neft negotiations outcome
The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has extended the operating license for Serbia's Oil Industry (NIS) until April 17, 2026. Energy expert Željko Marković from the Energy Union stated that the extension for NIS was expected, as was the short new deadline.
TL;DR
- OFAC extended NIS's operating license until April 17, 2026, ensuring the Pančevo refinery can continue operations.
- The outcome of negotiations between MOL Group and Gazprom Neft regarding NIS acquisition is pending, with a deadline of March 24.
- Serbia extended its ban on oil and petroleum product exports until April 2, 2026, to manage domestic market prices.
- Geopolitical conflicts, particularly in the Middle East, are impacting oil and gas prices.
- Diesel prices are expected to increase by 2-3 dinars, and gasoline by 3-4 dinars this week.
- Europe faces a gas crisis with minimal storage levels, struggling to find alternative suppliers to replace Russian gas.