Serbia’s oil company NIS has submitted another request to the US Treasury Department’s Office of Foreign Assets Control for authorization to continue operating. Its current licence expires on October 30. The application is intended to prevent disruption across NIS operations.
The refinery in Pančevo is a major source of petroleum products for the Serbian market. NIS has warned that restrictions on refinery operations could disrupt domestic fuel availability. It also said such restrictions would increase risks to Serbia’s energy security.
In its application, NIS stressed the importance of maintaining reliable petroleum-product supplies. The company also called for avoiding operating restrictions that could destabilize the market. It referred to the involvement of Serbian and international institutions in efforts to secure the necessary regulatory authorization.
US decision on licence remains pending
US authorities had not decided on the new application at the time covered by the report. Until another licence is granted, uncertainty remains over the conditions under which NIS can operate after October 30. The waiver decision is an immediate issue for Serbia’s oil market and security of supply.
