Adnoc Emerges as Frontrunner to Buy Russia's Stake in Serbian Oil Refinery, FT Says, Citing Sources

Dow Jones

2025/12/09

--Abu Dhabi's state oil company Adnoc is the frontrunner to buy Russia's controlling stake in Serbia's sole oil refinery but talks with other buyers are continuing, the Financial Times reports, citing sources.

--NIS supplies Serbia's oil products and is 56% owned by two Gazprom subsidiaries, which are under pressure to sell down stakes due to U.S sanctions targeting Russia, according to the FT reports.

--Representatives of Adnoc declined to comment on the deal when approached by the FT, while NIS and Gazprom Neft didn't respond to a request for comment.

Full story: htTps://shorturl.at/fh0rk

Write to Adam Whittaker at adam.whittaker@wsj.com

(END) Dow Jones Newswires

December 09, 2025 09:07 ET (14:07 GMT)

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