Serbian oil company NIS has applied for another U.S. sanctions waiver to keep operations running without interruption while continuing investment at its Pančevo refinery, Serbia’s only large-scale crude-processing facility. The request is linked to maintaining the ability to operate amid uncertainty tied to sanctions related to the company’s Russian ownership.
During August, NIS increased refinery throughput to about 13,000 tonnes per day. The company said the move took place while uncertainty persisted around sanctions imposed because of its Russian ownership.
Pančevo refinery throughput and role in Serbia’s fuel supply
NIS supplies around 80% of Serbia’s fuel market and roughly half of retail demand. Continued operation of the Pančevo refinery is therefore described as important for domestic energy security.
The company’s ability to process crude and supply fuel is also tied to how sanctions are applied under the U.S. framework. Until ownership questions are resolved, refinery operations, crude imports and financial transactions are expected to remain dependent on that sanctions regime.
Industrial railway network reconstruction at Pančevo
NIS has completed a 3.8 billion dinar reconstruction project, approximately €32 million, covering the refinery’s industrial railway network. The work focused on enabling improved rail logistics for receiving crude and dispatching petroleum products.
The upgrade included reconstruction of existing tracks and construction of five additional tracks, bringing the network length to 9,120 metres. A total of 47 new switches were installed, alongside a new 200-metre platform for inspection and servicing of railway tank wagons .
The company said the investment improves its ability to handle rail movements while increasing logistics flexibility. It also supports operations that depend on receiving crude by rail and distributing petroleum products through the same mode .
Ownership negotiations and sanctions exposure
A key issue remains ownership of NIS. Russian companies continue to hold the controlling position in the business.
Hungary’s MOL has been involved in negotiations concerning the Russian-held stake. Until those ownership uncertainties are resolved, NIS expects operational continuity and related commercial activity to remain constrained by the U.S. sanctions framework .
