MOL's Potential Stake: A Turning Point for Serbia's Oil Industry?

Hungary's MOL is in talks to purchase a stake in Serbia's NIS refinery, as the Russian-owned company seeks a buyer due to US sanctions. Hungarian Prime Minister Viktor Orban's chief of staff, Gergely Gulyas, emphasized the necessity of ending Russian ownership and mentioned MOL as a potential stakeholder.

Hungary's oil and gas company MOL is currently in discussions to acquire a stake in Serbia's NIS refinery, according to Gergely Gulyas, chief of staff to Hungarian Prime Minister Viktor Orban. The Serbian refinery, under Russian ownership, is compelled to find a new buyer due to ongoing US sanctions. Orban is presently visiting Serbia.

"A normal market transaction could be on the table, but discussions are still in progress. It's crucial for NIS to move away from Russian ownership," said Gulyas. "One viable option is for MOL to assume a more significant role," he added.

(With inputs from agencies.)