MOL representatives arrive in Serbia to analyse NIS operations

BELGRADE - Representatives of the Hungarian oil company MOL have arrived in Serbia to carry out a due diligence analysis of the operations of the Serbian oil firm NIS, Tanjug learns.

As planned earlier, the MOL representatives began a tour of key NIS facilities on Monday.

Since this morning, they have been inspecting NIS petrol stations in the country, starting from Subotica, northern Serbia, and are also due to visit the NIS refinery and the petrochemical plant.

They are expected to stay in Serbia for several days to conduct a comprehensive monitoring of NIS operations, which is the usual procedure prior to a purchase of an oil company.

NIS is under US sanctions due to its Russian majority ownership.

On December 31, the US Ministry of the Treasury issued a special operating licence to NIS until January 23.