Russian energy giant Gazprom announced on September 19 that it had divested all of its direct shares, accounting for 11.3%, in Serbia's oil and gas company NIS, with only 1 typical share retained, the group said in a filing sent to the Belgrade Stock Exchange.
Before the deal, Gazprom held 18,433,298 shares in the NIS.
No other details of the deal were disclosed.
Gazprom's subsidiary Gazprom Neft holds 44.85% of NIS shares, followed by the Serbian government with 29.87%, while retail shareholders hold 13.98%, according to data on the NIS website. As of September 19, the website still recorded Gazprom as the owner of 11.3% of the shares.
In January this year, the US Treasury Department announced sanctions against NIS as part of measures targeting the Russian energy sector.
At that time, Gazprom Neft held a 50% stake in NIS, while Gazprom owned 6.15%. Gazprom Neft has since transferred 5.15% of its NIS stake to Gazprom, raising its ownership ratio in the Serbian company to 11.3%. Gazprom has not been included in the US sanctions list.
On September 19, the NIS announced that it had proposed a seventh postponement of the sanctions, which are expected to take effect from September 26. Previously, in March, the NIS proposed to withdraw from the US Treasury Department's sanctions list.
In July this year, Serbian Energy Minister Dubravka Djedovic Handanovic said that the government is taking steps to stabilize the NIS situation, including appointing a government candidate to the position of Vice Chairman of the Board of Directors for the first time and selecting 2 independent members to the board to meet the governance requirements of the US Office of Foreign Assets Control (OFAC) of the US Treasury Department.
The NIS's business has been hit hard by US sanctions, with a net loss of 3.6 billion dinars ($36 million) in the first half of 2025, contrary to a net profit of 5.3 billion dinars ($53 million) in the same period last year.
NIS Group currently owns 411 gas stations, including 328 stations in Serbia, 42 in Bosnia & Herzegovina, 22 in Bulgaria and 19 in Romania.
In Romania and Bosnia & Herzegovina, the NIS also participates in oil and gas exploration and exploitation activities. The group has about 13,500 employees.
