Djedovic Handanovic: Talks on NIS progressing quite well

BELGRADE - Serbian Minister of Mining and Energy Dubravka Djedovic Handanovic said on Tuesday talks between the Russian majority owner of the Serbian oil company NIS and Hungary's MOL were "progressing quite well" and that Serbia's talks with MOL would be continued on Wednesday and Thursday.

Speaking at the Pupin Forum in Belgrade, Djedovic Handanovic said she expected that, by May 15 or 16, the conditions would be in place for sharing certain information with the US, which is to approve an agreement on an acquisition of the Russian majority stake in NIS by MOL.

"Binding MOL to have a certain annual level of processing at the refinery was one of the key issues, and we have reached certain agreements on that issue. Quite a lot of progress has been made on an agreement on that issue," the minister said.

"A few additional issues, chiefly commercial ones, remain as we will resolve the legal parts that also have to do with building a new Serbia-Hungary oil pipeline and with the share of products from the refinery on the Serbian market - we want the Serbian market to be provided for by the processing in Pancevo," she said.

Djedovic Handanovic said the talks on an agreement would be finalised soon.