Competition Council approval for NIS Petrol transfer
Romania’s Competition Council has approved the acquisition of NIS Petrol by the Romanian company Argenta, removing a regulatory obstacle to the Serbian oil group’s planned withdrawal from the Romanian market. The approval comes as pressure continues over NIS’s Russian ownership. The transaction follows an agreement reached in July, when NIS said it would sell its entire stake in its Romanian subsidiary, though the buyer was not publicly identified at the time.
The Romanian business operates 19 petrol stations and also has interests beyond fuel retailing. Its activities extend into onshore oil exploration, field development, crude production and wholesale trading in petroleum products. The deal therefore covers both downstream distribution assets and upstream-linked operations in Romania’s oil industry.
The competition authority concluded that the acquisition would not create a significant threat to market competition. While the transaction could result in a vertically integrated business, the regulator found no direct overlap between the companies’ activities. It also assessed that their market positions remained below the 30% threshold relevant to potentially affected markets.
Argenta ownership and industrial activities
Argenta is controlled by Romanian businessmen Iulian Stanciu and Adrian Crețoiu. Their wider investments include oilfield services company Foraj Sonde Videle. Argenta’s existing industrial activities include manufacturing metal components for construction, meaning the NIS transaction would diversify its operations into oil and fuel-related activities.
For NIS, the disposal is part of a broader restructuring process shaped by US sanctions imposed in January 2025 due to Russian ownership. Russian shareholders continue to control the Serbian company as part of its current ownership structure. Gazprom Neft holds 44.85%, while an additional 11.3% is held by Intelligence, a company indirectly controlled by Gazprom. The Serbian government owns 29.87%.
Sanctions pressure and separate negotiations over Russian-held shares
Washington has demanded the withdrawal of Russian shareholders, placing NIS’s ownership structure and future operations under sustained pressure. Hungarian oil and gas group MOL is engaged in discussions over a possible acquisition of the Russian-held shares. The Romanian transaction is separate from those negotiations but reflects how NIS is reorganising its regional portfolio while its longer-term ownership remains unresolved.
The competition approval provides a path toward completing the Romanian divestment, although regulatory clearance does not itself confirm that the sale has closed. The more consequential issue for NIS remains whether a change in ownership can address its sanctions exposure while maintaining operational stability in Serbia and its remaining regional businesses.
