Ownership of 11.3% stake in Serbia's NIS transferred to co managed by Gazprom Capital

Ownership of an 11.3% stake in Serbian oil company NIS has passed from PJSC Gazprom to JSC Intelligence, NIS reported, as per Interfax.

Intelligence is managed by Gazprom Capital LLC, which, among other things, holds the Gazprom Group's financial investments.

The stake changed hands on September 19 "based on a contract on the cession/transfer of shares in the joint-stock company without compensation," NIS said. PJSC Gazprom retains ownership of one share in NIS.

Gazprom and Gazprom Neft , the group's oil company, are not commenting on this information.

NIS is the only company in Serbia that explores for and produces hydrocarbons. The company has a large oil refinery in Pancevo and dominates Serbia's oil product market. NIS also has a chain of more than 400 filling stations in Bosnia and Herzegovina, Bulgaria and Romania.

Gazprom Neft owns 44.85% of the Serbian company, Serbia owns 29.87%, and the remaining shares are held by minority shareholders.

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Hungary has no intention to stop buying Russian oil, Hungarian Foreign Minister Peter Szijjarto said, as per Interfax.

"For us, energy supplies are a purely physical question. It can be nice to dream about buying oil and gas from somewhere. We can't ensure the safe supply of energy products for our country without Russian oil or gas sources," the Guardian quoted Szijjarto as saying on Tuesday.

"We can only buy from where we have infrastructure. And if you look at the physical infrastructure, it's obvious that without the Russian supplies, it is impossible to ensure the safe supply of the country," he said.

Szijjarto made the statement after U.S. President Donald Trump urged all NATO members to stop buying Russian oil.

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The Russian government is discussing extending the ban on gasoline exports for producers, which is in effect in September, to also include October, as well as the possibility of introducing a ban on diesel fuel exports, sources familiar with the discussion told Interfax.

The extension of the ban on gasoline exports for producers is highly likely, one source said.

Several sources in oil companies said that there is no need for a ban on diesel fuel exports, as there is currently enough of it on the market.

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Russian gas giant Gazprom is expanding underground gas storage capacity in Saratov Region to support exports to Uzbekistan, company deputy department head Sergei Khan said, as per Interfax.

"The Stepnovskoye storage facility is now developing. Instead of 68 million cubic meters per day of capacity, up to 80 mcm of daily capacity will be put into operation, and feeding of gas will be secured from this storage facility to the new export route through Kazakhstan to Uzbekistan," Khan was reported as saying by gas industry journal Gazovaya Promyshlennost.

He said every underground storage facility is a very complex geological site. "We've learned how to operate a gas storage facility even with an active water pressure regime. The Stepanovskoye storage facility has four geological reservoirs connected into two storage facilities, with crossflow between them and an active water pressure regime in one of the reservoirs," Khan said.

The Stepanovskoye underground gas storage facility, which opened in 1973, was built in the porous formations of the Vorobyov and Ardatov horizons of the depleted Stepanovskoye oil and gas condensate field. It can store 4.668 billion cubic meters of active gas and is used to even out seasonal fluctuations in gas consumption and peak loads in Saratov Region and the Ural-Volga region, as well as to maintain an operating pressure in the Central Asia-Center trunk gas pipeline.

Gazprom began exporting gas to Uzbekistan in October 2023 with the reversal of shipments through the Central Asia-Center pipeline system. Exports grew to 5.64 bcm in 2024 from 1.28 bcm in 2023.

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Propylene prices fell in Asia on Monday, as per Polymerupdate.

An industry source in Asia informed a Polymerupdate team member, "Propylene prices declined as muted trading activity and limited buying interest continued to weigh on the market."

On Monday, FOB Korea propylene prices were assessed at the USD 760-770/mt levels, a drop of USD (-5/mt) from Friday's assessed levels.

Meanwhile, CFR China propylene prices on Monday were assessed at the USD 790-800/mt levels, a fall of USD (-5/mt) from Friday.

In plant news, Shenhua Xinjiang Energy has restarted its polypropylene (PP) unit. around September 22, 2025, following a maintenance shutdown in August 2025. However, confirmation from an official source was not available. Located in Xinjiang, China, the PP unit has a production capacity of 450,000 mt/year.

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