Hungarian oil and gas firm MOL Nyrt.'s (MGYOY) Croatian subsidiary INA DD (INA.ZG) said Wednesday it needs to cut its crude oil and natural gas output in Syria.

MAIN FACTS:

- INA has experienced and is still experiencing difficulties in collecting payments from the Syrian partner for its share of hydrocarbon production.

- The extension of the scope of European Union sanctions Dec. 1, as well as the increasing political instability in Syria effect INA's Syrian operations.

- Due to developments in Syria, INA reduced the crude oil and natural gas production for approximately 1,300 barrels of oil equivalent per day on top of the crude oil production decrease of 1,500 barrels per day announced in September.

- INA said in November that the developments in Syria, especially EU sanctions against Syria, could have a negative effect on the company's overall profitability and operations.

- MOL shares were down 0.5% or HUF85 at HUF18,150 at 1106 GMT.

-By Budapest Bureau, Dow Jones Newswires; +36-1-267-0622; budapest@dowjones.com