Gazprom Neft to give up its right to operational management of NIS

At the beginning of May, Gazprom bought 10 million NIS (Petroleum Industry of Serbia) shares from Gazprom Neft

The Board of Directors of NIS has proposed a change to the statute of that joint stock company and the deletion of the provision according to which Gazprom Neft has the right to operational management of NIS.

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This change can occur as soon as at the regular session of the Assembly of Shareholders of NIS, which is scheduled for June 29.

At the beginning of May, Gazprom bought 10 million shares of NIS from Gazprom Neft, reducing Gazprom Neft's stake to 50 percent.

It is believed that this happened because Gazprom Neft is under EU sanctions against Russia, while the parent company Gazprom is not.

(Telegraf Biznis)