Naftna Industrija Srbije (NIS) has finalized an agreement for the import of initial quantities of crude oil via the Adriatic Pipeline (JANAF) to supply the Pančevo Oil Refinery, enabling the restart of production operations, the company announced on its official website.
According to the statement, the first deliveries of crude oil are expected to arrive at the Pančevo refinery next week, with additional shipments already planned.
In line with the delivery schedule, NIS plans to initiate start-up activities at the Pančevo refinery, marking a gradual return to full operational capacity.
Restart Following U.S. Sanctions
The production facilities at the Pančevo refinery were shut down in early December last year due to a shortage of crude oil, which occurred as a direct consequence of sanctions imposed on NIS by the U.S. Department of the Treasury, the company recalled.
However, a special license issued by the Office of Foreign Assets Control (OFAC) on December 31, 2025, has temporarily allowed NIS to resume operational activities until January 23, 2026. This authorization includes restarting refinery processing, importing crude oil, and conducting transactions essential for energy security and technical maintenance.
