Azerbaijan Steps Up Oil Exploration to Offset Depleted Azeri–Chirag–Gunashli Reserves
Against the backdrop of declining production at the Azeri–Chirag–Gunashli field, Azerbaijan has signed exploration agreements with four international companies — ExxonMobil, TPAO, MOL, and Gran Tierra. The focus is on finding new onshore and offshore resources. These agreements emerged from the country’s first open tender, in which 11 companies participated. …
In Saudi Arabia New Oil and Gas Fields Were Opened
The Minister of Energy of Saudi Arabia, Prince Abdeliaziz Ben Salman, announced the opening of seven new oil and gas deposits in the eastern province of the kingdom and in the Rub-El Khali desert. According to the Minister, which is quoted by the Saudi news agency SPA, the National Oil …
A New Large Oil Field Has Been Discovered in Hungary
Hungarian oil and gas company MOL said it had discovered a new field in the central part of the country that could produce about a thousand barrels of oil per day. “MOL, together with the Hungarian company O&GD Central Kft., carried out successful drilling in Central Hungary, near the village …
KMG, Sinopec and MOL will Begin Developing a Gas Field in Kazakhstan by 2024
The estimated production volume will be about 1 billion cubic meters. m per year, explained the head of Kazmunaigas Magzum Mirzagaliev The Kazakh oil and gas company Kazmunaigas (KMG), the Chinese Sinopec and the Hungarian MOL plan to begin developing the Rozhkovskoye gas field in western Kazakhstan by the end …
Upstream and Petrochemicals Boosted MOL’s Q3 Results, World Market Turmoil Represents Unpredictability
Today, MOL Group announced its financial results for the third quarter of 2021. Supported by the macro-economic environment, the doubling petrochemicals margins compared to last year and the internal performance of the company, Clean CCS EBITDA strongly rebounded and came in at USD 1,025mn in Q3 2021. This result brought …
MOL: Get Top Sustainability Ranking
MOL has again qualified for inclusion in the Dow Jones Sustainability World Index (DJSI) in the Upstream & Integrated Oil & Gas category following the 2020 assessment process. This is the fifth consecutive year that MOL has been recognized for its corporate sustainability leadership and made it into the DJSI. …
Hungary’s MOL in Talks for Chevron’s $2 Billion Stake in Giant Azeri oilfield
Hungarian energy firm MOL MOLB.BU is in talks to acquire Chevron’s (CVX.N) stake in a giant oilfield in Azerbaijan for more than $2 billion, according to three banking and industry sources involved in the process. Both Chevron and its larger U.S. rival Exxon Mobil (XOM.N) are seeking to sell their …