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MOL says to pursue independent strategy

Hungarian oil and gas firm MOL said it plans to pursue its own independent strategy and Russian oil firm Surgutneftegaz's intentions with its 21% stake in MOL are unclear.

“MOL would like to clarify its intention to follow its own proven strategy to create value for its shareholders is unchanged and it will serve the interests of all stakeholders in the sustained growth of MOL,” the company said in a statement on Monday.

MOL added that there have been no prior consultations with Surgut, which announced on Monday that it would buy Austrian OMV's stake in MOL.

“There have not been, nor are there, any strategic or operational relationships between Surgutneftegaz and MOL. Therefore, the intentions of Surgutneftegaz, formulated in its statement, are not clear,” MOL added. (Reuters)