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 …
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 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 …
MOL Group: 2020 Results – A Solid Performance in a Very Challenging Year
Today, MOL Group announced its financial results for 2020. Despite the challenging pandemic and economic crisis, MOL Group generated USD 464mn Clean CCS EBITDA in Q4, bringing full-year Clean CCS EBITDA to USD 2.05bn, above the updated guidance. In a year of disruption, volatility and uncertainty, all segments generated positive …
MOL Group 3rd Quarter EBITDA Bounced Back Despite the Crisis, Challenges Ahead
Today, MOL Group announced its financial results for the third quarter of 2020. During the pandemic and economic crises, Clean CCS EBITDA strongly rebounded from the Q2 lows and came in at USD 610mn in Q3 2020, only 12% lower than in the same period last year. This result brought …
MOL Group Q2 Results Hit Hard by Crisis, Free Cash Flow Remains Positive
Clean CCS EBITDA declined by 44% in Q2 2020 to USD 353mn, bringing H1 Clean CCS EBITDA to USD 975mn, 15% lower than last year’s result Upstream EBITDA declined to USD 112mn in Q2, affected by the collapsing oil and gas prices, despite increased production volumes Downstream Clean CCS EBITDA …