Related Articles
Forward article link
Share PDF with colleagues

MOL extends Balkan retail arm following positive Q3

Hungarian company reports clean third-quarter, current cost of supplies profit before tax, interest, depreciation and amortisation of forints 198.7bn

The downstream business remains the key contributor, given the low oil price. This is an area MOL has been expanding in. In forints, CCS Ebitda downstream was 80% up on the same quarter of 2014 while upstream was down 33%. With profits (Ebitda) above $1.9bn already delivered in the first nine months, the company is “more than confident” of reaching its target of $2.2bn this year, it says. The strong downstream performance explains its purchases in recent weeks of Eni’s retail businesses in Hungary and Slovenia as outlets for its refineries’ products. No financial terms were revealed. The former deal announced 21 October brought with it 183 Agip-branded service stations, including dealer-o

Also in this section
Saudi Arabia pushes ahead with IPO
22 March 2017
The state firm is making the right noises about its privatisation, but the clock is ticking and market fundamentals could still shift
An M&A lifeline in the North Sea
15 March 2017
Assets that cut tax bills could be a blessing for UKCS operators looking for a bargain
Depth, breadth and data
15 March 2017
Fresh from the merger with Baker Hughes, GE Oil & Gas boss tells Petroleum Economist about his firm's plans for digital analysis, cost-cutting and recovery