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Old 07.05.2007., 16:28   #11
Raca
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Where gasoline is cheap, and why it's making yours pricey
Friday May 4, 3:12 pm ET

By Steve Hargreaves, CNNMoney.com staff writer



In Saudi Arabia gasoline costs about 45 cents a gallon. In Iran it's 33. Venezuelans pay under a quarter.
These absurdly low prices are a direct result of massive government subsidies.
While these numbers are not adjusted for cost of living, it's fair to say that drivers in those countries are getting a good deal.

But it's straining government budgets. More importantly, it's not allowing the free market to do its job. Higher prices on the open market are not leading to a drop in demand, which is keeping the cost of oil high for everyone else.

"Roughly two-thirds of new oil demand is coming from countries that have subsidized oil markets," said Christopher Ruppel, a senior geopolitical analyst with the consulting firm John S. Herold. "So demand is not going to be affected if oil goes from $60 a barrel to $80."

By no means does this let motorists in the Untied States off the hook. Gasoline consumption in this country has been rising even faster than normal, around 2.5 percent annually over the last couple of months, despite average prices over $3 a gallon, close to an all-time record.

But countries where consumption is rising the fastest may be surprising.

With it's white hot economy, it's no surprise China tops the list. The country's oil demand is projected to grow 7.5 percent this year, according to statistics provided by Ruppel.

Ruppel said China still has gasoline subsidies, although lately the government has been trying to whittle them back. The average price for a gallon of gas in Beijing is $2.44 a gallon, according to the research group AIRINC, which provided all the gasoline price numbers in this story.

But the second highest demand growth isn't in the fast growing economies of India or Brazil. It's Saudi Arabia, projected to consume 5.6 percent more oil next year, according to Ruppel.

Iran is number three, guzzling 3.3 percent more.

Russia and Egypt, which Ruppel said both have heavy gas subsidies, are also high on the list.

And the raw numbers aren't small either. The Saudis used over 2 million barrels of oil per day in 2006, and the Iranians used 1.7 million. India, a faster growing economy with far more people, used 2.5 million. (By comparison, the U.S. used about 24 million barrels a day, nearly 10 times as much as India despite having a population nearly four times as small and an economy just three times bigger.)

"Maybe it's adding up," said Lou Pugliaresi, president of the Energy Policy Research Foundation.

Pugliaresi said his group hadn't done any particular studies on subsidies and how they relate to worldwide demand growth and prices, but added "There are places where it's serious, and some of those populations are big enough to make a difference."

Katherine Spector, head of energy strategy at J.P. Morgan, said the bank did a study on price supports and demand a couple years back. Not only was demand rising fastest in countries that had subsidies, it also greatly scaled back once the subsidies were reduced, such as in Thailand and Indonesia.

"A subsidy tells consumers they don't need to adjust their behavior," said Spector.

Of course, subsidies are just one factor contributing to high oil and gas prices, noted Adam Sieminski, chief energy economist at Deutsche Bank.

Sieminski pointed to all the the other reasons why oil prices are high, among them rapid worldwide economic growth, limited supply and not enough refining capacity.

But, he added "to the extend that it creates demand, it's helping push prices higher for everyone."
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Old 30.05.2007., 11:06   #12
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Delay seen in MOL-Gazprom project, Rahimkulov purchases unrelated

Wednesday, May 30, 2007 10:19:00 AM

Russian-born Hungarian billionaire Megdet Rahimkulov wants to boost its stake in Hungarian fuels group MOL to 10% from slightly above 5% currently and intends to acquire a package even larger than this in the country's largest bank OTP, business daily Világgazdaság reported on Wednesday, citing unnamed sources. Rahimkulov, however, told the paper such moves would be absolutely impossible.

The source of the paper said Rahimkulov's recent purchases of MOL shares and Gazprom's interest towards MOL have nothing to do with each other. Moreover, the teaming up of the Russian gas giant and MOL seems to be having glitches.

Preparations for a joint Hungarian project of MOL and Gazprom have slowed down and the parties are now rethinking the conditions of their co-operations. A share swap is already out of the picture, the paper said.

Experts were to present to the two companies by 1 July how a 50-50%-owned gas storage facility with a capacity of 10-15 billion cubic metres could be constructed and filled up in Hungary. The project is now to be put off by six months, as the parties decided to reconsider the plans.

The reason could be that Gazprom have since successfully stepped up co-operation in the gas business with Austria's OMV and its plans is Serbia are seen materialising, as well.

The paper said it would be a mistake to see Rahimkulov's MOL buys and the company's co-operation with Gazprom on the same page. The businessman has decided to purchase more MOL and OTP shares simply because he believes these companies will become takeover targets in the long run and then he could sell his packages at a handsome profit, the paper added.

2007.05.25 12:52
ANALSYT VIEW - Hungary MOL potential tie-up with Gazprom would be natural partnership - Merrill Lynch

Megdet


Rahimkulov increases stake further in Hungary's MOL

Tuesday, 29, May 2007 05:09:00 PM

Hungarian fuels group MOL has announced on Tuesday that following the purchase of 429,861 MOL ordinary shares (0.39% of MOL shares) on 24-25 May 2007, indirect influence of Kafijat Zrt. in MOL increased to 5.14%.

Taking into account that Timur Rahimkulov and Ruslan Rahimkulov jointly own 100% of Charing Investment Limited, which owns further 85,291 MOL ordinary shares, the abovementioned shares result in a 5.23% indirect influence in MOL for Megdet Rahimkulov, who owns 71.44% of Kafijat, and for his sons, who own 14.28% each of Kafijat.



It is common knowledge that Megdet Rahimkulov has a splendid track record of investments. His principal is that he buys stakes in companies only if he sees a return of 50% or better. He has had a number of successful investments in Hungary's listed companies. This 50% mark was achieved by tile maker Zalakerámia, national broadcaster Antenna Hungária, chemicals producer BorsodChem and Hungary's largest commercial bank OTP, as well.

It also deserves attention that the Russian-born billionaire is piling up MOL shares exactly when rumours start to take wing again about MOL - or at least a part of it - being an aquisition target for Russia.

Megdet II



... a prati ga i glas da ima bliske veze sa Gazpromom.... (" a former executive of Russia's OAO Gazprom"..."who has close business ties to Russia’s state-controlled gas monopoly Gazprom"...)
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Old 25.09.2007., 19:06   #13
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OMV vs. MOL - Who's the man?
Tuesday, September 25, 2007 03:34:00 PM

Now that Austrian fuels group OMV has once again showed clear signs of its determination to take over its Hungarian sector peer MOL, we felt it necessary to compare the two companies on the basis of several key indicators. Due to the existence of their subsidiaries (MOL holds a 25% stake in Croatia's INA and OMV has a 51% holding in Romania's Petrom), the comparison proved to be rather tricky in certain cases.

2007.09.25 12:31
Hungary MOL says no to OMV, deems approach value destructive

2007.09.25 08:07
OMV sends declaration of intent to Hungary´s MOL, would offer HUF 32,000 (128 €) per share (...ukupna tržišna kapitalizacija MOL-a na razini cca 13,8 milijardi € ...)

EBITDA of OMV was double of MOL's in 2006, but we must not forget that the Austrian company includes in its books the entire EBITDA volume of Petrom, while it holds only 51% of it, while MOL does not consolidate INA. Therefore, we thought it best to look at the companies' net profit, as well, as this provides a better basis for comparison...

MOL vs. OMV
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Old 12.06.2013., 15:09   #14
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Ima li šta nova u regiji?
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Old 14.08.2013., 13:52   #15
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No secret talks between Hungary's MOL and Croatian gov't on INA?

August 7, 2013, 4:35 pm Hungarian version

The Croatian government has not contacted Hungarian fuels group MOL over any issue related to INA, Hungarian daily Népszabadság reported on Wednesday. According to previous reports there have been secret talks underway between the two parties for months and that the negotiations are helmed by Sándor Csányi, Deputy Chairman of MOL’s Board of Directors and Chairman-CEO of OTP Bank, the country’s largest bank by assets.

The paper said Croatia has not yet contacted MOL with respect to INA, although Croatian Economy Minister Ivan Vrdoljak explicitly urged to start talks on INA last week.

"We need to talk with our strategic partner about INA’s strategic aims and its future, and to be able to do this we also need to talk about INA’s history over the last 10 years," Vrdoljak said at the Cabinet meeting on 1 August.

MOL has not commented on the report about secret talks with Croatian officials.

What has happened over the past few weeks?

The ongoing MOL-INA bout has been propelled into focus again over the past few weeks, which is no wonder really considering that Croatia’s anti-graft authority USKOK had said on its website on 11 July that the country’s European Union accession on July 1 established conditions that would ensure MOL Chairman-CEO Zsolt Hernádi would be present at hearings related to a bribery case that landed Croatia’s former Prime Minister Ivo Sanader a ten-year prison sentence. It cited EU member states’ obligatory judicial assistance co-operation in criminal cases that was opened for Croatia when it joined the bloc.


According to a Croatian daily, negotiations between the Croatian government and MOL have been secretly underway for months and the parties have addressed virtually every important aspect of their issues. It also said the talks from the Hungarian part are headed by no other than Sándor Csányi, Chairman-CEO of OTP Bank and Deputy Chairman of MOL’s Board of Directors.

Why is INA important for MOL?

As we have said it before, the share of INA’s contribution to MOL Group’s hydrocarbon production was significant over the past few years. In some of the quarters the Croatian fuels company provided nearly half of the production. Although INA’s share has declined somewhat recently (partly due to flooding problems on northern Adriatic fields, natural exhaustion and maintenance works), but INA continues to play an important role in MOL’s life.


August 13, 2013.

Hungarian fuels group MOL has published mixed figures for the second quarter of 2013 at least when compared with the numbers the market projected. The clean CCS-based operating profit of the large-weight Upstream segment came in 5% below the consensus estimate which is disappointing, but the key Downstream figures exceeded expectations.

The highlights of the earnings report:

- EBITDA (earnings before interest, taxes, depreciation and amortisation) cleaned off one-off items and the impact of inventory revaluation recorded a significant year-on-year decline;
- EBIT of Exploration & Production, which is a key driving force, contracted by more than 30% yr/yr, partly due to lower production volumes and partly because of the lower average realized hydrocarbon price;
- inventory revaluation constituted a major negative factor for refining due to decreasing crude prices, but even apart from this effect there was a more significant deterioration in operating performance...’
- ... which may be explained by worsening margins and also by the narrowing of the Brent-Ural differential;
- the negative impacts were dampened by the continued efficiency boost in the segment and higher sales volumes;
- petrochemical operations were once again profitable just like in the previous quarter (on EBITDA level, excluding one-offs and without the impact of inventory revaluation);
- Gas Midstream performance improved slightly even though gas transit unit FGSZ fared poorly; the losses of Prirodni Plin, INA’s gas trading company, decreased compared to the base period;
- gearing has moderated and remains well within the comfort zone.

Although MOL has managed to surprise on the upside on some of the profit rows, we do not believe it will be this particular earnings report that will bring a lasting turnaround in the share price that has been showing a rather disappointing performance over the past few weeks. The paper’s valuation does not seem to be exaggerated but short-term catalysts are still missing. In view of the past weeks’ events investors may be looking at the ongoing MOL-INA (Croatia) dispute as an increasingly serious risk factor. If the stalemate between MOL and the Croaitan government went on for an extended period it would definitely be detrimental for the share price, thwarting their advance.



btw., trenutna tržišna kapitalizacija INE je veća od MOL-a !?... toliko o tržišnoj efikasnosti... MOL? Citigroup Says Sell...
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Old 15.08.2013., 22:53   #16
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btw., trenutna tržišna kapitalizacija INE je veća od MOL-a !?...
nije prvi put, ali upravo ta okolnost ukazuje da je burza paralelna galaksija u odnosu na onu gdje je trpeza! smisao zsea ovakvog kakav je sada? parlaonica i edukarena - što i nije mala stvar...Ah, kad se jednog dana spoji desetak burzica i sjedište im se prebaci recimo u grad gdje su ga imale i zemlje OPEC-a, kad je ta udruga šamarala...
svašta ćemo mi još naučiti o raznoraznim KundK biznisima....
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Old 09.09.2013., 12:20   #17
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idu pregovori Vlade i Mađara...
počelo je već prc prc:
http://www.tportal.hr/biznis/gospoda...upuje-Inu.html
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