Serbian oil and gas company NIS has announced that its board of directors has approved the sale of its wholly owned subsidiary, NIS Petrol Bulgaria, due to ongoing operational challenges in the Bulgarian market.
According to the company’s H1 2025 financial report, the planned transaction involves the full divestment of its stake in the subsidiary. NIS added that additional details will be disclosed upon completion of the sale process. As part of the preparations, the company has initiated the conversion of all outstanding receivables into equity in NIS Petrol Bulgaria—an accounting move commonly used to streamline a company’s balance sheet ahead of a sale.
NIS currently operates 22 petrol stations in Bulgaria, with a 2.6% share of the national fuel market and 1.9% in the retail segment as of the first half of the year.
The announcement follows NIS’s earlier statement that it is evaluating a broader exit from its operations in both Bulgaria and Romania, where it runs 19 petrol stations, citing persistent difficulties in both markets.
