After selling a large block of shares in Hungarian MOL to the Kremlin-connected Surgutneftegaz, Austrian OMV CEO Wolfgang Ruttenstorfer’s final gift to European energy security is an agreement with Gazprom that interferes with the EU-backed Nabucco project. On February 21 in Moscow, Gazprom CEO Aleksei... MORE

Two parallel court proceedings in Vienna have confirmed that Austrian OMV and Russian Surgut Neftegaz had coordinated their hostile takeover attempts against Hungarian MOL. The Austrian and the Russian company were targeting MOL’s oil-refining business, which is recognized as the most efficient in Central Europe.... MORE

Vienna’s Prosecutor Office announced on November 17 that it has brought charges against OMV’s oil and gas company CEO, Wolfgang Ruttenstorfer, following the Austrian financial regulators’ investigation into OMV’s sale of a large stake in Hungarian MOL to Russian Surgut Neftegaz (Austria Presseagentur, November 17,... MORE

Russia’s Surgutneftegaz has filed a case in Budapest’s Metropolitan Court, seeking legal registration as a stakeholder in Hungarian MOL, the national oil and gas company. Surgut is asking the court to invalidate MOL’s April 2010 refusal to enter the Russian company’s shares in the Hungarian... MORE

The recent election in Greece resulted in a convincing victory for George Papandreou’s Pan-Hellenic Socialist Movement (PASOK). Despite the fact that Turkish-Greek relations were not a major issue during the election campaign, Ankara closely monitored the election. Turkish Foreign Minister Ahmet Davutoglu stated that Turkey... MORE

The troubled peace talks have resumed in Cyprus after Greek Cypriot officials boycotted them in the first week of September. As the second part of the negotiations began, the Turkish Cypriot leader Mehmet Ali Talat and his Greek Cypriot counterpart Dimitris Christofias met for their... MORE

On July 13 the Nabucco transit countries removed an important obstacle for the strategic pipeline project. Attending a high profile meeting hosted by Turkey, the prime ministers of Austria, Bulgaria, Hungary, Romania and Turkey inked the Intergovernmental Agreement (IGA). The ceremony was also attended by... MORE

The E.U. has set December 2009 as the deadline for Turkey to open its ports and airports to Greek Cypriots, and failure to comply might result in the suspension of talks on membership. Resolving the Cyprus issue is a critical part of the conditions set... MORE

The European Court of Human Rights ruled on March 12 that Russia must pay damages to the families of 13 Chechens presumed dead after being abducted during armed raids in Chechnya between 2001 and 2003, the Associated Press (AP) reported. The Strasbourg-based court said Russia... MORE