"OMV had tried to gain control over MOL, increasing its stake from some 10 per cent to more than 20 per cent by September 2007," the German dpa agency reported.
"But it gave up on the plan amid strong opposition from the Hungarian oil and gas group and the European Commission's concerns about a concentration of refining capacities," the news agency said.
MOL made a profit of 779 million dollars last year, a rise of 36 percent from 2007.
Last year, the Hungarian company became the biggest stockholder in Croatia's INA with a 47.16% interest, while the Croatian government holds 44.85% of the INA stock.
"Acquisition of MOL shares will establish a firm foothold to start long-term beneficial cooperation and will promote energy security in Europe," Surgutneftegas chief executive Vladimir Bodganov was quoted by the dpa agency as saying.