MOL's Slovakian unit fined 34.8 mln by ministry
Sunday, September 25, 2005, 00:00
Slovnaft, the Slovakian member of Hungary's oil and gas group MOL, received a fine of 34.8 million (Ft 8.5 billion) after a final decision by the Slovak Finance Minister, MOL announced on Tuesday. The fine was imposed on Slovnaft for a breach of the price discipline covered by the (later amended) Price Act of 1996.
MOL and Slovnaft are of the firm opinion that the decision is not in line with either Slovakian laws or international practice, and will seek legal remedy against the decision both within Slovakia and before international forums," MOL said in a statement.