Serbia begins investigation into sale of NIS to Gazprom Neft

Serbian police intends to launch an investigation into the 2009 privatization of the national oil company Naftna Industrija Srbija AD (NIS), the Russian business daily Vedomosti wrote on Aug. 12, citing Serbian Ministry of Interior.

“Serbian Minister of Interior Neebjsa Stefanovic has formed a special team to investigate and verify all the facts and circumstances of the privatization of NIS,” according to the media. “The privatization deal, under which the control of the national oil company NIS moved to Russian Gazprom Neft, took place five years ago.”

Serbia signed the agreement on the sale of the single oil refinery during the gas war between Russia and Ukraine between 2008 and 2009.

Reportedly, Serbia sold 51 percent of NIS’s shares to Gazprom Neft for EUR 400 mln, the paper wrote.

Gazprom Neft has increased its shares in NIS to 56.15 percent; 29.88 percent stake in the company is owned by the Serbian government and the remaining shares belong to minority shareholders.

Photo courtesy of Gazprom.