Hungary, Croatia: MOL-INA relations depends on new government strategy

MOL-INA relations will severely depend on the policy and strategy of new Croatian government. Previous government accused MOL for not fulfilling the investment obligation and plans to shut down the INA facilities.

Croatian power utility HEP needs to expand its operations in SEE region, that was the policy of former minister of economy. State policy on MOL strategy for oil industry INA to close its refineries and facilities may change with new government.

Croatia state owned power utility HEP needs to modernize its existing power generation facilities and consolidate energy market. HEP is the only regional power utility which is capable of acquiring new projects and in position to buy other regional smaller companies.

If HEP continues only to focus on Croatia and not thinking about expansion in region thru the ownership in other companies it will be eaten by bigger companies or other regional companies, explained the former economy minister but this opinion may be supported also by new government which proclaimed energy sector as one of most important.

Hungary MOL was not fulfilling its obligations toward the modernization and investments into INA facilities claimed from former government. But MOL was awaiting the new government in order to decide on its strategy toward INA.

HEP already entered the Hungary electricity market but also MET Energy from Hungary developed the business in Croatia, transmits Serbia-energy.eu

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