Are you sure?

MOL must cooperate with Surgutneftegas, says Russian dep PM

Hungarian oil and gas company MOL must cooperate with Russian peer Surgutneftegas in line with European legislation, Russian deputy prime minister Igor Sechin said on Friday, Reuters reported.

“We would like to see cooperation according to the interest of all investors in MOL,” Sechin told reporters.

Surgutneftegas acquired a 21.1% stake in MOL from Austrian peer OMV for €1.4 billion in March 2009. MOL's management called the deal unfriendly and Hungary's president expressed concern about the transaction.

Surgutneftegas could not vote at MOL's AGM in April because Hungarian financial market watchdog PSZAF did not close an investigation of its acquisition of the MOL shares in time for the Russian company to be included in the share registry, Econews reported earlier. Surgutneftegas could not vote at the AGM a year earlier either because the Hungarian Energy Office had not yet acknowledged the MOL share purchase. (MTI-Econews)