MOL shares hit seven-year high after Russia agrees to sell NIS stake

Shares of Hungarian oil and gas company MOL surged to their highest level since 2007 after Russia agreed to sell its majority stake in Oil Industry of Serbia (NIS) to MOL on January 19. 

MOL’s stock reached a 52-week high of HUF3,618 (€9.20) on January 20, up 0.4% on the day. Over the past month, the shares have jumped 25%, and they are up 34% over the past 12 months. Since the start of 2026, MOL shares have risen 20%.

Russia’s Gazprom and its subsidiary Gazprom Neft have reached a provisional agreement to sell their combined 56.15% stake in NIS to MOL. The deal, which also involves the United Arab Emirates’ ADNOC taking a minority share, would require approval from the US Treasury under sanctions regulations.

MOL confirmed earlier this week that it had signed the main provisions of the binding agreement with Gazprom on the purchase of the Russian ownership in NIS. The stock’s recent rally follows a breakout from a tight trading range in the weeks leading up to the announcement.