MOL seeks to accelerate INA ownership talks

Deals

Hungarian oil-and-gas company MOL wants to accelerate negotiations on its Croatian unit INA, and it seeks to boost the company's upstream output, MOL CEO József Molnár said after talks with the Croatian government, owner of nearly 45% in INA, in Zagreb on Thursday.

“Based on our business plan, as long as we get the necessary licences, INA could raise its daily output by 4,300 barrels of oil per day in the short term and by 9,000 in the mid-term. That is a respective 10% and a 20% rise in output," Molnár said. He added that the higher output could generate several hundred million kuna for the Croatian economy.

“On the basis of talks today, we are prepared to continue talks at an accelerated pace,” he said.

The Thursday discussion was the third in a series.

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