Gazpromneft is no longer the majority owner of NIS

Gazpromneft is no longer the majority owner of NIS

Gazpromneft is no longer the majority owner of Naftna industrija Srbije AD, reports.

Although the sixth package of EU sanctions against Russia does not include sanctions against Russian companies – but the purchase of Russian oil, and according to the information available so far, it does not mention the Western Balkans, and thus Serbia, Russia’s Gazpromneft has sold 6.15 percent of shares. to its parent company, Gazprom.

This was done because, unlike Gazpromneft, Gazprom is not under the sanctions of Brussels (so that EU members could continue to buy Russian gas from this company).

Photo: Beta/AP

According to the Central Securities Depository, NIS has a total of 163 million issued shares, of which 56.15 percent were in the hands of Gazpromneft. Now, therefore, Gazpromneft owns 50 percent of the shares.

That the ownership structure of NIS, that is, the fact that Gazpromneft had a majority package of shares, was a potentially big problem for Serbia, was seen at the time when Brussels was making decisions on the fifth package of sanctions against Russia.

That set of punitive measures referred to companies in the majority of Russian state ownership (which included Gazpromneft). Only with diplomatic negotiations, Serbia was exempted from the penal policy, which meant that crude oil would not be transported through Croatia via the Adriatic oil pipeline after May 15 to the NIS refinery in Pancevo.

It is clear, then, that it is this ownership transaction was made in order to ensure an orderly supply of oil and oil derivatives to Serbia. Because, now, as the owner of only 50 percent of shares in NIS Gazpromneft, it is losing its leading role in controlling business and in the Serbian oil industry.

In any case, the most important thing now is that the change in the ownership structure of NIS provides the conditions for the continuation of the normal functioning of the Serbian market, because NIS supplies most of the petroleum products.

When it comes to the origin of oil, it should be said that NIS was not a priori focused on buying Russian oil. However, Serbia, like Slovakia, the Czech Republic, Hungary, Bulgaria and Croatia, did not ask for an exemption from the sixth energy package.

Not, after all, and not only because, at least for now, it has not been said that these sanctions must be implemented by non-EU members. No, because NIS buys crude oil on the market, based on the best prices. that was the reason why, for example, in the previous period he bought mostly Middle Eastern oil.

Vučić was against the nationalization of NIS

Emphasizing that he was against the nationalization of Russian ownership in this company, the President of Serbia, Aleksandar Vučić, said on Friday that there were no substantial changes when it comes to the ownership structure of NIS.

Belgrade, November 24, 2021 – The President of Serbia, Aleksandar Vucic, held a press conference today in the Presidency in Belgrade. (BETAPHOTO / MILOS MISKOV / MO)

“There are no significant changes. This was done because Gazpromneft was under sanctions, and Gazprom was not, “Vucic explained.

The transaction was performed on the Belgrade Stock Exchange, in accordance with the regulations of the Republic of Serbia in the field of securities trading. Gazpromneft now owns 50 percent of NIS, the Republic of Serbia 29.87 percent, minority shareholders 13.98 percent and Gazprom 6.15 percent.


Photo: Promo

Source: BIZlife by

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