OMV and MOL in Iraqi fuel deal

Two European energy companies helping build a pipeline which will cut the continent’s dependence on Russian gas said yesterday they will team up with Mideast producers to feed the route with Iraqi fuel. In a consortium announced in the United Arab Emirates, Austria’s OMV AG and Hungary’s MOL Nyrt said they will each take a 10 per cent stake in a gas-production site operated by the sheikdom’s Dana Gas and Crescent Petroleum.