Energy minister: Serbia is not satisfied with the MOL refinery acquisition talks.

Serbia's energy ministry said that it was not happy with the Hungarian oil company MOL’s 'proposals' for the purchase of NIS, its only'refinery', and whose Russian owners want to sell their majority stake.

The Serbian government, which represents the 29.9% state stake in NIS in the NIS holding company, is in talks with MOL to settle relations between Belgrade, and the new potential majority owner.

These negotiations are distinct from those between MOL and the current majority owners of NIS, Russia's Gazprom & Gazprom Neft.

Dubravka Djedovic Handanovic, after a meeting in Belgrade with MOL representatives, said in an Instagram video that the Serbians were?concerned? about future operations. "So that refinery processing... covers the Serbian markets to a certain degree."

Djedovic Handanovic, Djedovic's spokesperson, said that the talks between Serbia and MOL focused also on past NIS commitments MOL should fulfill.

She said that the disagreements involved NIS's past obligations to Serbia and how they could be either fulfilled or compensated appropriately by the state.

She stated that Serbia is committed to further talks.

MOL didn't immediately respond to an inquiry for comment.

Gazprom owns 44.9% of NIS while Gazprom Neft holds 11.3%.

The Office of Foreign Assets Control of the U.S. Treasury imposed sanctions on NIS in part of broader measures targeting Russia's?energy sector due to the conflict in Ukraine and demanded that Gazprom and Gazprom divest their NIS shares.

MOL signed a deal on January 19, to buy the combined Gazprom?Neft?Gazprom shares, and Washington gave the Russian companies until the 22nd of May to complete the sale. Serbia wants to raise its stake in the company by an extra 5%. (Reporting and editing by Aleksandar Vasovic)

(source: Reuters)