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MOL’s acquisition of NIS: the value of synergies
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Report summary
Hungarian oil and gas company MOL Group signed a Heads of Agreement with Gazprom Neft in January 2026 to acquire the Russian company’s 56.15% stake in Serbian national oil company NIS. The deal came three months after the US targeted Gazprom (and Lukoil) with sanctions, which prevent Serbia’s sole refinery, the Pancevo refinery from importing crude oil. Apart from the refinery, the deal includes hundreds of service stations. What are the implications for the wider region?
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