MOL sees INA slip from its grasp as production falls
The Hungarian oil and gas firm is struggling with corruption allegations
Hungarian oil and gas firm MOL is struggling to arrest the decline in its production. The substantial newly discovered reserves in Croatia's Adriatic offshore plat would have helped fixed that, but they now look to be beyond MOL's grasp as control over its Croatian subsidiary INA slips away. The dispute over INA is both long-standing and complex. In fact, it might conceivably get worse after the Croatian authorities in July decided to try in absentia MOL's chief executive, Zsolt Hernadi, over allegations that he paid former Croatian prime minister Ivo Sanader a bribe to gain management control over INA. Given that in mid-June Croatia's Supreme Court confirmed a 2013 guilty verdict against Sa
Also in this section
7 August 2025
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
7 August 2025
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
6 August 2025
Diesel market disruptions have propelled crude prices above $100/bl twice in this century, and now oil teeters on the brink of another crude quality crisis
5 August 2025
After failed attempts to find a buyer for its stake in Russia’s largest oil producer, BP may be able to avoid the harsh treatment meted out to ExxonMobil and Shell when they exited—and could even restart operations if geopolitical conditions improve
