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Appointment made to head arbitration panel in INA-Edison dispute

Hungarian oil and gas company MOL on Tuesday said an appointment had been made to head an arbitration panel in a dispute between MOL's Croatian unit INA and Italy's Edison International.

Edison says in the arbitration notice that INA did not fully comply with its contractual obligations under a production sharing agreement in blocs on the Adriatic Sea. It is claiming EUR 140m in compensation for damages as well as compensation for lost profit.

INA contested the allegations in a response to the arbitration notice, MOL said.