Gazprom Neft cuts stake in Serbia’s NIS

Gazprom Neft cuts stake in Serbia’s NIS as US sanctions loom
Russia's Gazprom Neft transferred stakes of around 5.15% in Serbia's NIS oil company to Gazprom, in an attempt to ward off U.S. sanctions that could result in crude supply cuts for the Balkan country.
Gazprom Neft transfers 5.15% stake in Serbia's NIS to parent Gazprom
February 26 (SeeNews) - Russia's oil major Gazprom Neft has transferred a 5.15% stake in Serbia's oil and gas group NIS [ BEL:NIIS] to its parent Gazprom, bourse filings by the two Russian companies showed on Wednesday, a day before U.S. sanctions against Serbia's sole refiner are set to come into effect.
Gazprom Neft transfers 5.15% of shares in Serbian NIS to Gazprom
Gazprom Neft has transferred 5.15% of the shares in the Serbian company NIS to Gazprom , the Belgrade Stock Exchange said. Gazprom Neft previously owned 50% of NIS and Gazprom owned 6.15%. Gazprom Neft currently owns 44.
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Serbia is in last minute talks with the United States and Russia ahead of a Thursday deadline to avoid U.S. sanctions on oil company NIS that could result in crude supply cuts, Energy Minister Dubravka Djedovic Handanovic said on Wednesday.
Gazprom Restructures NIS Holdings Amid Looming US Deadline
Russia’s Gazprom Neft has reduced its ownership in Serbia’s top oil company, NIS, just as a US-imposed deadline on sanctions approaches. The move aims to prevent potential penalties that could cut off Serbia’s oil supply.
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