Surgutneftegas takes MOL to court

http://bbjonline.hu/index.php?col=10...

Friday 9:23, June 5th, 2009

Russian oil and gas company Surgutneftegas has initiated judicial supervision against Hungarian peer MOL in the Metropolitan Court of Registration because of MOL's failure to include Surgutneftegas in its share registry, MOL said on Thursday.

Surgutneftegas acquired a 21.2% stake in MOL from OMV at the end of March, but it was not included in the share registry before the company's AGM in April.

The Hungarian Energy Office (MEH) told MTI earlier that Surgutneftegas had informed it of the company's acquisition of the MOL stake, but MEH had submitted questions to the Russian company before acknowledging the transaction. For this reason, the company was unlikely to be included in the share registry before the AGM.

MOL's management called the acquisition of the stake by Surgutneftegas unfriendly. (MTI-ECONEWS)