MOL, Croatia agree on course in INA talks

Deals

Representatives of Hungarian oil and gas company MOL and the state of Croatia agreed on the course of talks on their obligations as the biggest stakeholders in Croatia’s INA on Wednesday, according to Croatian national news agency HINA.  

Both parties agreed on the course and models for conducting the negotiations, and reached agreement in principle of holding a negotiating round once a month, with materials being forwarded to them prior to the talks,” the Croatian news agency reported, quoting a release by the government’s public relations service.

MOL holds a little less than 50% of INA’s shares. The state of Croatia owns about 45%.

A perceived lack of investment in the company by MOL and the state’s failure to take over INA’s loss-making gas business, as stipulated in a shareholders agreement, have been sources of tension between the two stakeholders.

The two negotiating parties are currently agreed that the negotiations will cover the future of corporate management, cost controlling, investment and profit distribution, research and development, the development and production of hydrocarbons, crude oil and petroleum products and their wholesale and retail sale, and the gas business.

The sides also agreed on the common goals for INA: increasing investments, business efficiency and raising INA’s contribution to Croatia’s economy, according to the HINA report.

– Written by Gábor Pákozdi

ADVERTISEMENT

More Romanians at poverty risk since the COVID pandemic Analysis

More Romanians at poverty risk since the COVID pandemic

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.