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Russia asks EU to help Surgutneftegas acquire MOL shares
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Friday, 05 Nov 2010
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RIA Novosti quoted Mr Sechin administration said Russian Deputy Prime Minister Mr Igor Sechin has asked the European Union to help Russian energy company Surgutneftegas acquire stock in Hungary oil company MOL.

An administration official quoted Mr Sechin as telling European Energy Commissioner Mr Gunther Oettinger said "The coming of Surgutneftegas, which produces 65 million tonnes of oil per year, into property rights for acquired shares will strengthen MOL's position on the market from the point of view of crude supplies."

The official quoted Oettinger as saying he would scrutinize the issue.

In March 2009, Surgutneftegas bought 21.2% of MOL from Austria OMV for EUR 1.4 billion. The deal displeased Budapest with Hungarian President Mr Laszlo Solyom saying the purchase threatened the country energy security.

(Sourced from RIA Novosti)

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