NIS reaches agreement on crude imports via JANAF, first quantities due next week

BELGRADE - Serbia's oil company NIS has reached an agreement on imports of the first quantities of crude oil for its refinery in Pancevo via the JANAF pipeline, which will enable the refinery to restart production.

In a statement, NIS said the first quantities of crude were due next week and that it also planned to import additional quantities.

In early December 2025, production facilities at the Pancevo oil refinery were halted due to a lack of crude oil for processing as a result of US sanctions on NIS due to the company's Russian majority ownership.

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