Serbia's government and Russia's OAO Gazprom Neft (SIBN.RS) have reconfirmed their commitment to a deal under which the Russian firm will buy a 51% stake in Serbian state-run oil company NIS, the Interfax news agency reports Monday citing an unnamed source.
Under a January deal between the two sides, Gazprom Neft, the oil arm of state-controlled gas monopoly OAO Gazprom (GAZP.RS), planned to take control of NIS for EUR400 million, agreeing to invest at least EUR500 million upgrading the company's facilities.
But disagreements in the Serbian government have so far delayed the deal.