Hungarian oil company MOL and the Serbian government have signed a shareholders agreement outlining the transfer of control of the Naftna Industrija Srbije (NIS) oil company to MOL. The agreement establishes the framework for MOL to gain a controlling stake in NIS, a significant player in the Serbian energy market. Finalization of the deal is contingent upon approvals from both Russian and US authorities, reflecting the complex geopolitical considerations surrounding the energy sector. Details of the financial terms were not immediately disclosed. This move strengthens MOL’s regional presence and influence in the Balkan energy landscape. The agreement aims to modernize NIS and enhance its operational efficiency. Regulatory hurdles remain before the transaction can be fully completed.