After nearly 100 days, crude oil has started flowing through the Adriatic Pipeline (JANAF) to the Pančevo refinery, RTS has confirmed.
The flow of oil to the Pančevo refinery was halted on October 9, 2025, when U.S. sanctions came into full effect. However, both JANAF and NIS (Naftna Industrija Srbije) received a license to resume operations until January 23, 2026, and NIS has already contracted and paid for the first oil shipments.
Minister of Mining and Energy, Dubravka Đedović Handanović, stated that around 85,000 tons of crude oil will be delivered via JANAF this week.
“The Pančevo refinery is expected to resume operations around January 16, in any case before the end of the week. We expect the first diesel from this production to reach the market around January 26–27. In addition to domestic crude oil, which currently totals around 120,000 tons, these shipments will ensure the refinery can operate continuously, even after January 23,” the minister said.
Further shipments of 35,000–45,000 tons of crude oil are expected next week, securing refinery operations for a longer period.
Negotiations with MOL regarding the purchase of the Russian stake are ongoing. According to RTS sources, President Aleksandar Vučić has discussed with MOL management all aspects of cooperation, the urgency of resolving issues with the U.S. Office of Foreign Assets Control (OFAC), and the importance of signing the International Agreement between Serbia and Hungary.
“Our goal is to extend the operational license. OFAC requested to review the main terms of the agreement. We expect initial negotiations between MOL and Gazprom Neft to conclude, after which they will approach OFAC for license extension until final negotiations are completed and any potential transaction is signed,” Đedović Handanović explained.
NIS and JANAF have a three-year contract for the transport of 10 million tons of crude oil, set to expire in December 2026.
