The Croatian government and the Hungarian MOL oil and gas group have entered into negotiations over the future of INA, the main oil and gas company in Croatia and the largest business entity in the country. MOL (itself Hungary’s largest business group, 25 percent state-owned)... MORE

According to Naftohaz Ukrainy officials, all the ongoing natural gas purchases from German RWE (see accompanying article) are carried out under a framework agreement signed in May 2012. This envisages deliveries of 5 billion cubic meters (bcm) in 2013, with the subsequent possibility of expansion... MORE

Denting Russian Gazprom’s monopoly, Ukraine is procuring small but growing volumes of natural gas from Europe. The German Rheinisch-Westfaelisches Elektrizitaetswerk (RWE) is providing the volumes through its subsidiary, RWE Supply & Trading.  Ukraine’s neighbors Hungary and Poland are providing the transit services. The three countries... MORE

On July 19, Hungarian-based MOL entered into a partnership with Kazmunaigaz E&P (Exploration & Production, the upstream subsidiary of the national company Kazmunaigaz) to develop the North Karpovsky oil and gas block in Kazakhstan. Kazmunaigaz E&P’s CEO, Alik Aidarbayev, commented that MOL was selected for... MORE

Hungary has raised some serious questions about the viability of the Nabucco gas pipeline project and the performance of the project company’s management. The Hungarian critique has strongly reverberated in all quarters: at the EU in Brussels, among the Nabucco partner-governments, within the project consortium... MORE

The European Commission has pronounced against the Croatian government’s changes to the law on ownership of INA, the Croatian oil and gas company. The changes would have reserved for the government alone the right to own 49 percent or more of INA’s shares. The government’s... MORE

In a last-minute reversal, Croatia has decided to request the European Commission’s opinion on legal amendments that would bar Hungarian MOL from acquiring more than 49 percent of ownership shares in Croatia’s oil and gas company, INA. The Croatian government’s September 29 meeting had been... MORE

On June 24-26, Chinese Premier Wen Jiabao stopped in Budapest with great fanfare. The Hungarian government, then closing out its term as rotating presidency of the EU Council of Ministers, celebrated Mr. Wen’s call on the Pearl of the Danube as an important coup for... MORE

Within days after the European Commission had cleared Croatia to join the EU (Financial Times, June 22), political harassment of Hungarian MOL has intensified in Croatia. Russian interests are conveniently using local allies to wrest operational control of INA, the Croatian oil and gas company,... MORE

Hungary’s government has successfully completed negotiations with the Russian government and Surgutneftegaz about the latter’s exit from Hungary. The government is purchasing Surgut’s 21.2 percent stake in the oil and gas company MOL, Hungary’s largest business entity and Central European oil-refining leader. Surgut, a Kremlin-connected... MORE