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Sinocor, PKN Orlen in talks with Surgutneftegas regarding MOL stake

Britain's Sinocor and Poland's PKN Orlen are involved in talks with Russian oil and gas company Surgutneftegas regarding purchase of its 21.2% stake in Hungarian peer MOL, the Austrian financial daily Wirtschaftsblatt reported.

The newspaper said that PKN Orlen, which is reportedly offering its stake in Lithuania's Raffinerie Mazeika Nafta in exchange for Surgutneftegas's MOL shares, has a better chance of concluding a deal with the Russian company than Sinocor.

The Hungarian daily Népszabadság reported last week that Russian businessman Kirill Kasatkin, a representative of Sinocor, had recently made an offer for Surgutneftegas's MOL shares, though the deal fell through. MOL told Népszabadság that neither the company nor its managers had been in contact with Sinocor.

The Russian business daily Vedomosti reported on February 11 that MOL had made an offer to buy company shares from Surgutneftegas, though a MOL spokesman told MTI that “There is no MOL delegation in Moscow in talks with Surgutneftegas.” The spokesman noted that MOL CEO Zsolt Hernádi had said in an interview with Reuters a week earlier that he saw little chance for a strategic cooperation between the two companies.

Surgutneftegas acquired its 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. (MTI – Econews)