INA board to discuss refineries in early Oct

Deals

The board of Croatian oil and gas company INA, a unit of Hungary's MOL, could discuss its refining business at a meeting scheduled for October 7 at the earliest, Croatian news agency HINA said on Monday, citing a "well-informed" source that it did not name.

The agenda of the meeting has not yet been set, HINA said.

MOL, which exercises management rights in INA, by agreement with the Croatian government, the other big stakeholder, has noted that INA's refinery capacities exceed Croatian market demand and face challenges in terms of competitiveness. Speculation that the refineries will be shut down has caused concern on the Croatian side.

INA's three Croatian board members walked out of the last meeting of the body, breaking quorum when they realised they might be outvoted on key decisions, HINA said.

Both MOL and the Croatian government have turned to arbitration courts because of tensions over the management of INA.

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.