Mol's management feels that the government is the main evil and said it would seek legal action against a decision by Budapest to raise gas prices by only 12% as of 1 July, a move seen as causing huge losses to Mol's gas business. Analysts have said Mol would need a price hike of between 30% and 40% after rises in global gas tariffs.
Gas trouble at Mol
THE HUNGARIAN government is looking to buy the gas business of domestic oil group Mol after a controversy that led to the resignation of its chairman Janos Csak last week.
30 June 2000 0:00 GMT
Updated
30 June 2000 0:00 GMT