MOL Gets Green Light for NIS Acquisition Talks

Hungary's energy company MOL obtained a license from the U.S. Treasury's OFAC to negotiate the purchase of Serbia's NIS oil firm. With an agreement reached in January to acquire a 51.56% stake held by Gazprom entities, MOL awaits further U.S. Treasury approval, with talks ongoing until July 31.

Hungary's MOL has secured a necessary license from the U.S. Treasury's Office of Foreign Assets Control (OFAC), enabling the continuation of negotiations for purchasing Serbia's NIS oil firm, currently under Russian ownership.

In January, MOL reached an agreement to acquire a 51.56% stake in NIS, held by Russian companies Gazprom Neft and Gazprom. The transaction still requires nod from the U.S. Treasury.

The licensed negotiation process is set to extend until July 31, as MOL aims to finalize the acquisition, expanding its energy portfolio amid global market dynamics.