MOL and INA closer to takeover of OMV Slovenia

INA already owns a 7% stake in OMV. In order for the buy-out to get the green light from the European Commission, MOL is selling 39 of its gas stations in Slovenia, some of which belong to MOL and some OMV. OMV Slovenia manages the second largest retail network in that country, which includes 120 gas stations. The takeover will also include wholesale operations.

The Hungarian oil and gas company MOL and its Croatian subsidiary INA are one step closer to buying OMV Slovenia. Croatian Economy Minister Davor Filipović said on Tuesday that the move would be a positive one for the Croatian oil and gas company: "INA currently has five petrol stations in Slovenia that are branded as INA, and after this process is completed, it will have between twenty-five and thirty. So, this is absolutely a good position for INA, as it strengthens INA's position on the Slovenian market, but also on the Croatian market, an ultimately in Bosnia and Herzegovina, because all three countries will be supplied from Rijeka."

And while INA and MOL are expanding, drivers were greeted today by higher fuel prices. As a result of a government decision all types of fuel have gone up be two cents per liter, with Eurosuper and Eurodiesel coming in at €1.40 per liter, while agricultural diesel is now €0.90 per liter. These prices will be valid for the next two weeks.

Meanwhile, Prime Minister Andrej Plenković announced today that government's new package of measures to mitigate spiraling inflation and rising energy prices will enter into force on April 1st. Valued at €1.7 billion, the measures include increased support for the most vulnerable members of society, such as one-off aid packages of between €45 to €160 for pensioners and low income families with children. Aid will also be given to the unemployed, veterans, those affected by the earthquake, and fishermen and farmers. And while existing caps on basic food goods have been adjusted somewhat, Plenković said that the price of electricity and gas will remain the same.

Source: HRT