MOL CONTINUES TALKS ON PURCHASE OF STAKE IN NIS

BELGRADE, OCTOBER 15 /SRNA/ - Hungarian oil company MOL has received an extension from the US Department of the Treasury until October 30 for negotiations on the purchase of the Russian stake in Serbia's Oil Industry /NIS/, and the talks are continuing.

MOL told Radio Television of Serbia /RTS/ that approval from the US Treasury Department's Office of Foreign Assets Control /OFAC/, as well as other relevant authorities, is required to complete the transaction. MOL has completed the renovation of facilities at the Danube Refinery that were damaged in a fire last year, paving the way for the refinery to resume operations at full processing capacity. The company stressed that this was important not only for supplying the Hungarian market but also for supplying countries across the region. MOL is also a major supplier in Serbia, where it operates around 70 petrol stations.