MOL Signed Major Agreement in Azerbaijan to Develop Gas Reserves of the ACG Field
MOL Group and its Joint Venture (JV) partners signed commercial agreements for the development of gas reserves in Azerbaijan. After SOCAR and BP, MOL is the third largest shareholder in the giant ACG field, where non-associated gas reservoirs were identified beneath and above the producing oil reservoirs. The partners have …
MOL Group 2024 Q1 Results: Solid Performance Amidst Difficult External Circumstances
MOL Group Profit before tax reached USD 382 mn in the first quarter of 2024, 18% and 29% lower quarter-on-quarter and year-on-year Downstream’s results have been affected by the increase of Brent-based refining margins and petrochemicals margins but production decreased due to turnarounds Consumer Services’ results were boosted by an …
A More Competitive, Self-Sufficient and Greener Region: MOL Group is to Achieve Carbon Neutrality With a Smart Transition
MOL Group updates its long-term strategy announced in 2016. MOL Group aims to achieve carbon neutrality by 2050 through smart transition: ensuring sustainability and further strengthening security of supply through innovative technologies. The company will further strengthen its refineries with $150 million in efficiency improvements and continue to invest in oil …
MOL Group Reaches Historic Well-to-Wheel and Diversification Milestone by Bringing Home Azeri Light Crude Oil From Oilfield Co-Owned in Azerbaijan
MOL Group receives shipment of Azeri Light crude oil from ACG field in Azerbaijan, in which MOL is the third largest shareholder Seavelvet tanker carrying 90,000 tons of crude shipped from the Port of Ceyhan in Turkey to Omisalj in Croatia, from where the crude is transported to Slovnaft …
MOL Group 2021 Results: Record High EBITDA Driven by Oil and Gas Prices
Today, MOL Group announced its financial results for Q4 and full year 2021. In a very volatile external environment, MOL Group generated USD 947mn Clean CCS EBITDA in Q4, bringing full-year Clean CCS EBITDA to an all-time high USD 3.531bn, above the updated guidance. Simplified free cash flow tripled since …
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 Group Q2 Results: Strongest Quarter Ever, Full-Year Guidance Upgraded
MOL Group announced its financial results for H1 and Q2 2021. In the first six months MOL Group delivered USD 1,559mn EBITDA while in Q2 Clean CCS EBITDA jumped by 153% year-on-year to an all-time high USD 893mn, driven by stronger oil macro, record high petrochemical margins and the easing …
MOL Group’s Covid-Prevention in Numbers: USD 20mn on Measures, USD 5mn on Support
By the end of the 3rd wave of the pandemic in Central and Eastern Europe,MOL Group implemented extensive preventive measures and invested more than USD 20 mn (HUF 6.1 billion) protecting employees and customers against Covid-19. MOL have provided more than 8,000,000 masks, 14,000,000 gloves, 170,000 litres of disinfectant and …
MOL Group Q1 Results: Strong Quarter Despite Third Wave of Pandemic and Lockdowns
MOL Group announced its financial results for Q1 2021. MOL Group delivered USD 664mn Clean CCS EBITDA in Q1 2021, 7% higher than last year in the same quarter, despite the third wave of the Covid-19 pandemic and the subsequent travel restrictions and lockdowns in Central and Eastern Europe. Strong …
MOL Group to Launch Updated, Integrated Long-Term Strategy
The Board of Directors reviewed and approved “MOL Group 2030+”, an update of the company’s long-term strategy – which was originally announced in October 2016 – fully integrated with a new sustainability strategy and complemented with a longer-term vision and ambitions beyond 2030. ”The MOL 2030 long-term strategy has so …