Nov 9, 2009

Putting the Squeeze on MOL

Over the last six months, Russia’s attempt to seize control of MOL (Hungary’s major energy company) has generated more plot twists than a telenovela.

Budapest has asked the real owner of Surgutneftegaz – the buyer – to step forward. Yet whispers continue that Hungary could experience “technical difficulties” along the Druzhba oil pipeline if the government continues to resist.

Meanwhile, everyone is holding their breath for a new energy dispute in Ukraine, possibly coinciding with a presidential election. Either way, we're settling in for a long winter. Energy crisis season is upon us.

More hot cocoa anyone?

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