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MOL reluctant to give away Romanian plans

Hungarian oil and gas company MOL will continue to keep its contractual relationship with Romanian peer Petrom, MOL said when asked about press reports that it does not want to buy vehicle fuel from Petrom and will build its own fuel storage facility in Romania.

In an exclusive interview with Romanian news agency NewsIn, MOL's chief economist László Varró said MOL does not wish to buy vehicle fuel from Petrom because it is using its strong market position to raise vehicle fuel prices. Instead, MOL wants to build a “logistics center” along the Danube, preferably close to Bucharest, for storing vehicle fuel. MOL would deliver fuel from its refinery near Budapest down the river to the centre. The construction of the centre would cost €100 million and last a year, NewsIn reported citing Varró.

NewsIn noted that Petrom has about 500 petrol stations in Romania, making it the biggest player on the market.

MOL told MTI on Wednesday that, although company experts are continually looking for possibilities to boost efficiency, the reports in the Romanian press do not apply to the present situation and they have nothing to announce regarding the Romanian report.

MOL said “ideas on the drawing board” do not affect the company's relationship with Romanian partners neither in the short or the middle term. (MTI – Econews)