Tag Archives | MOL

Meddling Hungary government seeks to cut MOL’s ties to Russia

I’ve been writing about Hungary’s chemical sector for around a decade, observing with fascination the efforts of Russian energy and chemical companies to gain a foothold there. BorsodChem, MOL and its petrochemical subsidiary TVK have all been the targets of more or less surreptitious efforts, often by Russian companies operating through subsidiaries or holding companies […]

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Hungary to rely on exports for chemicals recovery

BorsodChem, TVK, MOL and others are in for a tough 2010 as a new report suggests there will be no recovery before 2011. Hungary’s chemical industry has suffered from plummeting domestic demand as well as falling demand from export countries, particularly Germany.According to www.companiesandmarkets.com, 75% of the country’s polymer production is exported. While Germany has […]

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INEOS – MOL share swap offer ends in failure

Hungary’s oil and chemical major, MOL, has been the subject of takeover rumours and bids for many years. Not so long ago there were whispers that the Russians were intent on building a stake in MOL as they sought a foothold further West. A merger with Poland’s PKN Orlen has been on the cards for at least a […]

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OMV to control Nova Chemicals

Austrian oil and chemicals group OMV is to intervene in the strategic planning and operation of Canada’s Nova Chemical, following its acquisition earlier this year by Abu Dhabi’s International Petroleum Investment Co (IPIC).IPIC is a partner with OMV in Austria-based plastics major Borealis and also holds a direct stake in OMV. NOVA was acquired in […]

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