Hungary-Serbia oil pipeline to be built by company owned by Hungary's MVM Group 😔

Serbia seeks an alternative oil pipeline to enhance supply security, currently reliant on a single pipeline from Croatia. Hungary's Mol Nyrt. aims to acquire the Serbian oil company NIS, which is under U.S. sanctions. A tender for a new Hungarian-Serbian pipeline has been awarded to a consortium led by MVM Južna Bačka, despite previous complaints. The pipeline, spanning 113 kilometers, will connect Horgoš to Novi Sad, passing through several towns. The Serbian oil industry faces vulnerabilities, particularly due to sanctions affecting NIS and its ties to Russian interests.