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MOL Group kauft ENI Hungaria Zrt

Ab dem 1. August 2016 geht die ENI Hungaria Zrt. ins Eigentum der MOL Group über.

Im Rahmen der Vereinbarung mit ENI Ungarn übernimmt die MOL die Leitung über das Unternehmen inklusive dem gesamten Tankstellennetz. Durch diese Akquisition festigt die MOL noch mehr ihre starke Retail Position; ab dem 1. August betreibt die MOL in Ungarn mehr als 500 Tankstellen. In der Region betreibt die MOL mittlerweile – unter unterschiedlichen bekannten Brandnamen- ca. 2.000 Tankstellen und bedient ca. eine Million Kunden pro Tag.

Die MOL hat sich zum Ziel gesetzt, die Nummer eins für die Kunden sowohl im Treibstoffbereich, als auch im Bereich der Konsumgüter für den täglichen Bedarf zu sein. Das Unternehmen sucht laufend nach Möglichkeiten der Weiterentwicklung, um dem sich ändernden Bedarf der Kundenwünsche gerecht zu werden und das Niveau ihrer Dienstleistungen im Rahmen seiner Shops namens Fresh Corner zu erhöhen.

Nach erfolgter Übernahme bekommen die Agip Tankstellen den bekannten Look nach dem MOL Standard; dazu gehört auch die Erweiterung des Fresh Corner Konzepts in den Shops.

MOL Group Announces Q1 2016 Results

  • MOL Group delivered a Clean CCS EBITDA of HUF 144bn (USD 510mn) in Q1 2016
  • Historically strongest Q1 Downstream performance with outstanding petrochemical contribution
  • Upstream production grew further in Q1 2016 to 112 thousand boepd, the highest level since Q4 2012

Budapest, 6th May 2016 – Today, MOL Group announced its financial results for Q1 2016. The results imply that MOL is well on track to deliver its guidance and generate at least USD 2bn clean CCS EBITDA in 2016. MOL Group’s resilient integrated business model absorbed the effects of low oil prices as strong Downstream EBITDA growth offset the decline in Upstream profits.

MOL Group delivered a robust clean CCS EBITDA of HUF 144bn (USD 510mn) in Q1 2016, despite oil prices averaging only USD 33.9 per barrel in the first quarter – 37% lower than in the same period last year. The results imply that MOL is well on track to deliver on its annual guidance to generate at least USD 2bn clean CCS EBITDA.

The Downstream segment delivered yet again record-high clean CCS EBITDA for the first quarter of HUF 93bn (USD 328mn). This represented a material, 22% increase year-on-year driven primarily by an outstanding, nearly doubling petrochemical contribution on the back of the very supportive external environment. Retail EBITDA also grew by a remarkable 31% year-on-year, driven by higher sales volumes (+10% year-on-year), somewhat higher fuel margins and stronger non-fuel contribution. Motor fuel demand growth (2%) in the core CEE markets continues to support the Downstream business.

Upstream EBITDA, excluding special items, amounted to HUF 42bn (USD 150 mn) in Q1 2016, whilst CAPEX and investments reached HUF 33bn (USD 118mn). This means that the Upstream business is on the right track to deliver the targets of the New Upstream Program and achieve self-funding operations in 2016 through production optimization efforts and substantial cost side adjustments.

As a result of MOL Group’s production optimization efforts, onshore production grew in CEE by 3.3 thousand boepd (+5%) year-on-year, with oil production up by 13%. With additional production growth in the UK, overall, MOL Group’s average daily hydrocarbon production rose by 9 thousand boepd year-on-year to 112 thousand boepd in Q1 2016, which is the highest level since Q4 2012. OPEX and CAPEX adjustments are in progress to sustain self-funding operations and direct production cost decreased further to 6.3 USD/boe.

Gas Midstream delivered HUF 19bn (USD 68 mn) EBITDA in Q1 2016, 6% higher year-on-year.

Chairman-CEO Zsolt Hernádi commented the results: “As the final steps to conclude the year 2015, MOL Group’s annual general meeting in April approved a 10% increase in dividends – fully funded by last year’s cash flows –, which is expected to result in 17% higher dividend per share, as well as a 2% share cancellation. MOL also successfully issued EUR 750mn 7-year Eurobond at the lowest coupon and yield in its history, which together with the settlement of the Magnolia transaction allows us to save approximately USD 20mn annually in funding cost. The overwhelming interest from investors demonstrated the trust and confidence of capital markets in MOL’s operational and financial strength. I am likewise happy to report that MOL Group is well on track to deliver on its USD 2bn+ Clean CCS EBITDA target for 2016. Downstream posted record high first quarter results supported by an outstanding petrochemical contribution, offsetting the decline in Upstream profits, again proving the resilience of MOL’s integrated business model. Upstream delivered positive free cash flow in Q1 2016, highlighting that the New Upstream Program, which targets material efficiency improvements and self-funding operations even at low oil prices, is already on track.”

New bridge built with MOL Group’s support in Pakistan

  • A new road bridge has been constructed in Khushal Garh with the financial support of MOL Group
  • The new bridge enables secure access to Islamabad for local inhabitants
  • The new link not only facilitates everyday life in the area, but also MOL Group’s regional business activities

Khusal Garh, Pakistan, 27 April 2016 – Thanks to MOL Group’s financial support, the newly-built bridge in Khushal Garh provides not only a secure route for local communities, but also improved access for MOL Group between its operational sites and the refinery in Rawalpindi.

MOL is well-established in Pakistan and has a proven track record, having had a successful presence in the country since 1999 with five blocks and two operatorships. The new bridge plays a significant role in the operational stability of the company and its partners.

The previous bridge, built 100 years ago, was no longer suitable or safe for everyday traffic. The new one, which provides MOL with better access to its assets, also ensures a more secure route for local traffic to Islamabad. This new route supports regional business activities and makes the area more attractive to investors too.

"In all countries where MOL Group operates, we are committed to supporting the interests and everyday life of local communities. We are conscious of our social responsibility; therefore we support various projects in Pakistan such as health programs, infrastructure investments and sports. Through all our activities we aim to make everyday life easier and the business environment more attractive" said József Simola, MOL Group Chief Financial Officer.

"We are glad that we have built up a fruitful cooperation in Pakistan, and with the construction of the new bridge we have further strengthened this relationship. With successful projects such as this increasing recognition of MOL in the area, we are well-positioned to continue to pursue the mutual interests of MOL and the local community" highlighted Ákos Grosz, Managing Director of MOL Pakistan.

MOL Holds Successful Annual General Meeting

  • Shareholders approve consolidated financial statements of MOL Group for 2015
  • Annual General Meeting accepts dividend payment of HUF 55 bn
  • Appointment made to the Board of Directors, Supervisory Board and the Audit Committee
  • General Meeting accepts the proposal of CEZ MH B.V. for a 2% capital decrease through the cancellation of treasury shares

BUDAPEST, 14th April 2016 – At the Annual General Meeting of MOL Plc. held today, shareholders approved the report of the Board of Directors regarding finances for the year 2015, and furthermore approved consolidated financial statements. The General Meeting has accepted the Board’s proposal for HUF 55 bn dividend payment and the proposal of CEZ MH B.V. for a 2% capital decrease through the cancellation of treasury shares. Dr. Oszkár Világi was reelected as a member of the Board of Directors and Mr. György Mosonyi as a member of the Supervisory Board. Mr. Ivan Mikloš was elected as a member of the Supervisory Board and as an alternate member of the Audit Committee. Dr. Norbert Szivek was elected as a member of the Audit Committee. MOL Group also launched a website at www.molgroup.info/annualreport2015 to present its 2015 Annual Report in a user-friendly and transparent way.

Zsolt Hernádi, MOL Chairman-CEO, commented on last year’s results: “The oil & gas industry faced a very tough operating environment in 2015. In spite of this, we delivered a strong set of results, exceeding all expectations, proving that the integrated model supported by the high quality low-cost asset base we have steadfastly built over the years, works. Looking back over the year, we managed to grow our EBITDA even with an upwardly revised mid-year target, we further reduced our capital expenditures and our focus on cash generation led to a substantial increase in free cash flow and an even stronger balance sheet than in 2014. A difficult year is behind us, but we emerged better, leaner and more profitable. We are convinced that despite an even tougher environment in 2016, our integrated business model works and we will achieve our targets in 2016.”

from left to right: József Simola, MOL Group CFO, Dr Pál Kara, MOL Group Legal Counsel, Zsolt Hernádi, MOL Chairman CEO, József Molnár, MOL Group CEO, György Mosonyi, Chairman of MOL Supervisory Board

from left to right: Sándor Csányi, Member of the Board of Directors, Oszkár Világi, Member of the Board of Directors, Ivan Mikloš, Member of the Supervisory Board, Zsolt Hernádi, MOL Chairman CEO

MOL Group’s Eleventh Hydrocarbon Discovery in Pakistan

  • MOL Group announces new crude oil and natural gas discovery in Karak Block
  • MOL Pakistan (100% subsidiary of MOL Group) has a proven track record in Pakistan since 1999

Budapest, 30th March, 2016 – Today, MOL Group announced a new hydrocarbon discovery in the Karak Block in Pakistan. The block is operated by Mari Petroleum Company Limited (MPCL) with 60% working interest while MOL Pakistan Oil & Gas Co. B.V has 40% in the block.

MOL has a well-established track record of 17 years in Pakistan and holds equity stakes in five blocks in the country. MOL Pakistan acquired working interest in the Karak Block in 2008. Oil was first discovered in 2011 with the Halini-1 exploration well. During 2015, Halini Deep-1 and Kalabagh-1 exploration wells were spudded and completed. Testing of Kalabagh was completed and resulted in a discovery in 2015, which was the second discovery in the Block. The present successful testing of the Halini Deep-1 well marks the third discovery in the Karak Block.

In the Upper Indus area, MOL is also present in the Ghauri and Margala fields and is the operator of the TAL block, where MOL is currently responsible for about 80,000 boepd production on a 100% basis. Additionally, in 2015 MOL acquired a 30% non-operated stake in the DG Khan Block which marked the entry in the Middle Indus region.

Berislav Gašo, MOL Group’s E&P COO commented the discovery: “We are very proud of our 11th discovery in Pakistan. In the past 17 years, the exploration teams led by MOL in Pakistan have successfully de-risked more than 400 MMBOE in 2P reserves. This well, which is operated by Mari Petroleum, adds to this success series and will also help to improve the energy security of the country. We are thankful for our cooperation with our partner, Mari Petroleum. Our exploration and development efforts in Pakistan contribute to the success of our New Upstream Program, which aims at making MOL Group’s portfolio self-funding even in a 35 USD/bbl oil price environment. Our Pakistani operations are a crucial building block in these efforts and we believe that there is further upside ahead of us in Pakistan.”

Technical details of the discovery:

The Halini-Deep-1 discovery constitutes as the third consequent discovery in the block following two previous successes (Halini-X-1 in 2011 and Kalabagh-1A in 2015). The Halini-Deep-1 well was drilled to a depth of 5,900 metres. Subsequent to the drill-stem test, a new, deeper reservoir (Samana Suk) was added to the already known higher reservoirs (Lumshiwal, Hangu, Lockhart). The completion integrity test has been conducted with flow rates of 1,425 bopd oil and 1.18 mmscf/day gas (~200 boepd). Operator expects first oil by end of H1.

MOL Group sucht nach Spitzentalenten für mehr als 170 Stellen in 13 Ländern

"Make an impact to the oil & gas industry”

  • Der Bewerbungsprozess für das Talentrekrutierungsprogramm Growww der MOL Group ist ab sofort bis Mitte April für junge Hochschulabsolventen geöffnet.
  • Der preisgekrönte Online-Wettbewerb Freshhh des Unternehmens ruft Absolventen weltweit auf, sich bis zum 29. März zu bewerben.
  • Die Gewinner von Freshhh können den Wettbewerb als Sprungbrett nutzen, bei MOL Group Fuß zu fassen, die drei besten Teams haben die Chance, ein Preisgeld von insgesamt 25.000 Euro zu gewinnen.

Budapest, 07. März 2016 – Heute fällt der Startschuss für Growww und Freshhh, die Talentrekrutierungsprogramme der MOL Group, einem führenden internationalen Öl- und Erdgasunternehmen. Die preisgekrönten Programme des Unternehmens sollen Spitzentalente aus demselben Geschäftszweig ansprechen und sie für das Headquarter sowie seine Tochterunternehmen rekrutieren. Growww ist ein einjähriges Absolventenprogramm mit der Möglichkeit, eine internationale Karriere zu starten und Einblicke in eine der komplexesten Branchen der Arbeitswelt zu gewinnen. Teilnehmer können sich bis Mitte April für Growww via LinkedIn unter www.molgroup.info/growww bewerben. Teams mit drei Teilnehmern können sich jetzt auch für Freshhh bewerben, ein Online-Wettbewerb für Absolventen, die an der Industrie interessiert sind. Die Registrierung ist bis zum 29. März 2016 unter www.freshhh.net möglich.

„Wir freuen uns sehr, durch unsere Talentrekrutierungsprogramme Growww und Freshhh erneut junge und ehrgeizige Hochschulabsolventen anzusprechen. In diesem Jahr ist MOL Group stolz ankündigen zu dürfen, dass die Gewinner des Freshhh Wettbewerbs realistische Aussichten darauf haben, ihre Karriere bei MOL Group zu starten. Mit Growww bieten wir Absolventen die Gelegenheit, einmalige Erkenntnisse über die Branche zu gewinnen und einen bedeutenden Beitrag zu leisten. Unsere Mentoren helfen jungen Talenten, sich zu Experten auszubilden und unsere Trainingsprogramme unterstützen sie dabei, neue Fähigkeiten zu erlernen. Growww ist nicht einfach ein Absolventenprogramm, sondern eine Möglichkeit, internationale und interdisziplinäre Arbeitserfahrung in einer der relevantesten Industrien zu sammeln“, betont Zdravka Demeter Bubalo, HR Vize Präsident der MOL Group.

Growww bietet den Studenten mehr als 170 Positionen in 13 Ländern (Ungarn, Österreich, Slowakei, Deutschland, Serbien, Slowenien, Pakistan, Kroatien, Rumänien, Bosnien & Herzegowina, Italien, Polen und Tschechien) in technischen, wirtschaftlichen, IT, naturwissenschaftlichen und sozialwissenschaftlichen Berufsfeldern an. Junge Experten können sich bis Mitte April für Growww unter MOL Group’s LinkedIn page bewerben.

Freshhh, ein spannendes Online-Simulationsspiel der Öl- und Erdgasindustrie, erwartet von den Studenten, ihr Wissen in realitätsbezogenen Fällen zu demonstrieren. Der Wettbewerb besteht aus drei Runden: Die fünf besten Teams werden am 25. Mai am Live-Finale teilnehmen und konkurrieren um den Gesamtbetrag von 25.000 Euro. Zudem haben sie die Möglichkeit, ein Jobangebot zu erhalten und bei einem internationalen Team der MOL Group Fuß zu fassen.

Tomáš Pavlík, ein Ingenieur für Trainingssystem-Schulungen bei Slovnaft, einem Mitglied der MOL Group, und Freshhh-Finalist aus dem Jahr 2008 schildert seine Einblicke über beide Programme: „Nach dem Erreichen der Topposition beim Freshhh Wettbewerb wurde mir ein Platz im Talentrekrutierungsprogramm Growww bei MOL Group angeboten. Growww war eine großartige Erfahrung, besonders während der Schichtarbeit über einige Monate – das hat mir wirklich gezeigt, wie ein Umschmelzwerk arbeitet.“

Mehr Informationen über das Growww Programm unter http://molgroup.info/en/growww und https://www.facebook.com/growww. Über den Freshhh Wettbewerb unter www.freshhh.net und https://www.facebook.com/molfreshhh.

Über Growww
Growww ist ein Absolventenprogramm, das Spitzentalenten eine einzigartige Möglichkeit bietet, ihre Karriere bei einem internationalen Öl- und Erdgasunternehmen zu beginnen, unter professioneller Beratung Arbeitserfahrung zu sammeln und sich in interkulturellen Arbeitswelt zu beweisen. Während des intensiven Ein-Jahres-Programms werden die Studenten durch die Teilnahme am Business Education Programm (BEP) Einblicke in die Industrie erlangen und professionelle Beziehungen knüpfen. Jeder junge Experte wird von einem dienstälteren Kollegen beraten. Die meisten der Teilnehmer setzen ihre Karriere, nach Ende des Programms, in Experten oder Spezialistenpositionen bei MOL Group fort. Das Growww Programm ermutigt Frauen, stetig ihre Kompetenzen weiterzuentwickeln. Ein außergewöhnlich hoher Prozentsatz von weiblichen Bewerberinnen war im letzten Jahr Teil des Programms (über 35 Prozent höher als der durchschnittliche Wert). 1.770 Growwwers wurden seit dem Programmstart im Jahr 2007 eingestellt und fast 40 Prozent der ehemaligen Teilnehmer sind in dem Unternehmen aufgestiegen.

Über Freshhh
Freshhh ist ein internationaler Online-Absolventenwettbewerb, bei dem Hochschulabsolventen in Teams von drei Teilnehmern von Beginn an eine neue Öl-Korporation bilden müssen. Dabei müssen sie Entscheidungen über die Forschung und Entwicklung von Projekten treffen, um die Raffinerie für verschiedene Produkte zu koordinieren und das profitstärkste Produkt zu finden. Die fünf besten Teams des Freshhh Wettbewerbs erhalten die Möglichkeit am Live-Finale teilzunehmen. Die drei Sieger-Teams gewinnen 25.000 Euro. Zudem erhalten die besten Talente aus dem Live-Finale die Möglichkeit eines Jobangebots in einem internationalen Team der MOL Group.

Über MOL Group
MOL Group ist ein integriertes, unabhängiges und internationales Öl- und Erdgasunternehmen mit Hauptsitz in Budapest, Ungarn. Die Unternehmensgruppe ist in über 40 Ländern mit einer international schlagkräftigen Belegschaft von knapp 27.000 Mitarbeitern und einer Erfolgsgeschichte von mehr als 100 Jahren in der Industrie vertreten. Die Aktivitäten in der Exploration und Produktion beruhen auf über 75 Jahren Erfahrung im Bereich der Kohlenwasserstoffe. Aktuell wird in acht Ländern produziert und in 14 Ländern findet Exploration statt. Die Gruppe betreibt vier Raffinerien und zwei petrochemische Fabrikanlagen im ganzheitlichen Supply-Chain-Management in Ungarn, der Slowakei und Kroatien. MOL Group besitzt ein Netzwerk von über 2.000 Tankstellen in elf Ländern in Zentral- und Südosteuropa.

Pressekontakt:
Mariella Kaluza
F&H Public Relations GmbH
Brabanter Strasse 4
80805 Munich
Telefon: +49 (89) 12175-133
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Isabelle Hein
F&H Public Relations GmbH
Brabanter Strasse 4
80805 Munich
Telefon: +49 (89) 12175-150
Email: Diese E-Mail-Adresse ist vor Spambots geschützt! Zur Anzeige muss JavaScript eingeschaltet sein!

MOL Group Looks for Top Talents to Fill More Than 170 Positions in 13 Countries

"Make an impact to the oil & gas industry”

  • The application process to MOL Group’s Growww programme for fresh graduates is now open until mid-April
  • MOL Group’s gamified competition Freshhh also calls on students worldwide to register until March 29th
  • Winners of Freshhh may also potentially join MOL Group and the top three teams win a total of 25,000 EUR

Budapest, 8th March 2016 – Today MOL Group announced the launch of its Growww and Freshhh 2016 award winning talent acquisition programmes, in line with its strategy to attract top talents from the region and to accommodate the business needs of its Headquarters and subsidiaries. Growww is a 1-year graduate programme offering a unique opportunity for young professionals to kick-start an international career and learn about one of the most complex industries. Candidates can apply for Growww positions at www.molgroup.info/growww via LinkedIn application process until mid-April. Teams of three can now also register for Freshhh, an online gamified competition for students interested in the industry. Registration is open until March 29th at www.freshhh.net.

“We are excited to continue attracting young and ambitious graduates through our talent acquisition programmes, Growww and Freshhh. In 2016 MOL Group is proud to announce that the top winners of the Freshhh competition may also potentially join MOL Group. With Growww we offer graduates the opportunity to gain lots of knowledge and to make a real impact in the industry. Our mentors will help young talents to become an expert and our training sessions will help them to learn new skills. Growww is not simply a fresh graduate programme, but an opportunity to gain international multidisciplinary working experience in one of the most fundamental industries”, said Zdravka Demeter Bubalo, HR Vice President of MOL Group.

Growww offers graduates more than 170 Growww positions varying from engineering, economics, IT, natural sciences, and social sciences on group-level in 13 countries (Hungary, Austria, Slovakia, Germany, Serbia, Slovenia, Pakistan, Croatia, Romania, Bosnia & Herzegovina, Italy, Poland and Czech Republic). Young professionals can apply for Growww until mid-April on MOL Group’s LinkedIn page.

An exciting simulation game of the Oil & Gas industry, Freshhh, awaits the university students to demonstrate their knowledge in real-life businesses cases. The competition consists of three rounds; the top five teams will enter the Live Final on May 25th competing for the total prize of 25, 000 EUR and possible job offer to join the international team of MOL Group. Tomáš Pavlík, an Operator Training System Engineer at Slovnaft, member company of MOL Group, and Freshhh 2008 finalist gave his insights about both programmes: “After reaching a top position during the Freshhh competition, I was offered a place in the Growww programme at MOL Group. Growww was a great experience, especially when working shifts for a few months – that was really an eye-opener for me regarding how a refinery works.”

You can find more information about the Growww programme at: http://molgroup.info/en/growww and https://www.facebook.com/growww and about the Freshhh competition at: www.freshhh.net and https://www.facebook.com/molfreshhh

About Growww
Growww is a graduate programme that offers top talents a unique opportunity to start their career at an international oil & gas company, gain work experience under professional guidance, and prove themselves in cross-cultural working environment. During the intensive one-year programme, students will gain insights into the industry by participating in the Business Education Programme (BEP) and establishing and developing professional relationships. Each young professional is mentored by a senior colleague. After finishing the programme, most of the participants are continuing their career at MOL Group in expert or specialist positions. The Growww programme encourages women to accelerate their professional growth, and drew in a remarkably high percentage of female applicants last year (above 35% compared to the industry and company average), 1,770 GROWWWers have been recruited since the programme started in 2007 and almost 40% of former programme participants have been vertically promoted in the company.

About Freshhh
Freshhh is an online international student competition, where students in teams of three members have to build up a new oil corporation from the beginning and make decisions on research and development projects to manage refinery for different products and find the best product portfolio to gain profit. The top five teams of the Freshhh competition get the opportunity to take part in the Live Final event, win a total of 25,000 Euros and receive a possible job offer to join international team of MOL Group.

About MOL Group
MOL Group is an integrated, independent, international oil and gas company, headquartered in Budapest, Hungary. It is active in over 40 countries with a dynamic international workforce of 27,000 people and a track record of more than 100 years in the industry. MOL’s exploration and production activities are supported by more than 75 years’ experience in the hydrocarbon field. At the moment, there are production activities in 8 countries and exploration assets in 14 countries. MOL Group operates four refineries and two petrochemicals plants, under integrated supply chain management, in Hungary, Slovakia and Croatia, and owns a network of nearly 2,000 service stations across 11 countries in Central & South Eastern Europe.

MOL Group Announces 2015 Full Year Results

  • MOL Group delivered a strong clean CCS EBITDA of USD 2.5bn, 13% above 2014 results
  • Historically strongest Downstream performance with strong internal efficiency delivery
  • Total production was 104 thousand boepd in 2015 a 7% increase compared with the previous year
  • MOL booked asset impairment charges of USD 1.7bn, mostly driven by the low oil price environment

Budapest, 24th February, 2016 – Today, MOL Group announced its financial results for 2015. The Downstream segment had the historically highest and strongest financial performance in 2015, more than doubling its contribution from the previous year. Upstream production grew 7% year-on-year averaging 104 thousand barrels of oil equivalent per day (boepd) partly due to successful production intensification efforts in CEE.

MOL Group significantly outperformed its USD 2.2bn target for 2015 and delivered a clean CCS EBITDA of USD 2.5bn despite oil prices halving. MOL generated substantial free cash flows (USD 2.1bn), significantly exceeding organic CAPEX (USD 1.3bn) and leading to a robust balance sheet with low indebtedness level.

MOL Group Downstream had the historically highest and strongest financial performance in 2015 with a clean CCS EBITDA of HUF 463bn (USD 1.65bn) in 2015, more than doubling its results compared with the previous year. Downstream was able to capture the opportunities given by the external conditions and 50% of its EBITDA was coming from internal efficiency improvement programmes that were started in 2011.

In Upstream, with oil prices halving, EBITDA excluding special items amounted to HUF 201bn (USD 719mn) in 2015, down 26% year-on-year. Total hydrocarbon production rose 7% to 104 thousand boepd in 2015. In Croatia production increased 7% year-on-year, whilst in Hungary the production remained almost flat in comparison to the base period, a significant achievement in light of earlier projections of up to 5% annual decline. Looking at the crude output, production grew 20% in Croatia and 5% in Hungary.

In line with the previous announcements the Akri Bijeel assets were written off in Q4 2015 following the block’s relinquishment. MOL also booked additional asset impairment charges in Q4 2015, mainly driven by the revised primarily oil price assumptions used for the valuation of the assets. The largest items were related to the UK assets.

The Gas Midstream segment posted a full-year EBITDA contribution of HUF 60bn (USD 213mn) in 2015, similar to the previous year.

Chairman-CEO Zsolt Hernádi commented the results: “The oil & gas industry, including MOL, had to face one of the toughest operating environments of the past two decades with oil prices plunging more than 70% from its 2014 summer peak. Yet despite the challenges, we managed to increase our clean results by 13% compared to 2014, beating our targets, generating substantial free cash flows and closing the year with a very strong balance sheet. These achievements have placed MOL ahead of most of the integrated oil companies. The dramatically changed environment forced us to take some painful yet necessary decisions, including the revision of the fair value of our Upstream assets, which resulted in material non-cash impairment charges, similarly to many oil and gas companies. MOL proved in 2015 that it has an efficient, highly cash generative Downstream platform which is able to capture market opportunities as it continues to invest into the long-term growth of the business. In addition, the first year delivery of the Next Downstream Program already exceeded our expectations. Simultaneously, we are in the process of realigning our Upstream division with the aim of operating profitably even in a USD 35/bbl oil price environment not only in the CEE but also internationally. Our ultimate goal for 2016 is to generate around USD 2bn EBITDA and sufficient cash flows to be able to continue to cover both internal investment needs and dividends to our shareholders, even under adverse scenarios.”

Norbi is one round closer to the Big Dream

After ten years of success and challenges, Norbert Michelisz continues his car racing career as a Honda factory driver. It has been a wonderful 10 years for Norbi, a long road from his love of car racing games to the sweeping victory at Hungaroring.
MOL Group is proud to have contributed to Norbi's successes by sponsoring Zengő Motorsport (Norbi's previous team).
We know that by becoming a Honda factory driver, winning the World Champion title has become a realistic goal. Norbi, we trust that with the Honda team you will soon Level Up to the next stage!

MOL Group awards the winners of the UPPP competition 2015

  • The team “Oil Fnatic” from Hungary won the international oil and gas talent acquisition competition UPPP 2015.
  • This year the number of applications for UPPP reached record levels: 1,114 teams from 53 countries faced real-life business challenges.
  • The top three teams were awarded with total €25,000 and the most talented from the competition may get the opportunity to join MOL Group on its “UPPP Technical Placement Programme”.

Budapest, 9th December 2015 – Today MOL Group, a leading international oil and gas company, proudly announced the winners of the UPPP competition. The team Oil Fnatic with three students from the University of Miskolc in Hungary ranked as the number one team of the UPPP competition, beating 1,113 participating teams. During the two-day live final event in Budapest the top five teams competed by solving real-life tasks that face the oil and gas industry.

“We congratulate the top teams for winning this unique competition and thank all participants for the energy and hard work they demonstrated over the past few months. Our talent acquisition programs prove that MOL Group found a successful and adventurous way to attract young talents, which help us to overcome the critical generation gap the global oil and gas industry faces. We are proud to see that we managed to increase the number of participants and for the first time we opened up the program to all the countries in the world.”, said Zdravka Demeter Bubalo, HR Vice President of MOL Group.

This year the number of participants increased significantly, from 972 teams in 2014, to 1,114 teams in 2015. Students with a major field of study of geoscience, petro-technical or engineering project management were invited to enrol in the online competition from September 24th to October 15th 2015. The teams had to compete in virtual scenarios online, solving industrial and strategic tasks developed by MOL Group. The top five teams competed in the live finals in Budapest for a total prize pot of €25,000. Talented professionals from the best teams earned the chance to receive a job offer from MOL Group and kick-start their career with the 18-month “UPPP Technical Placement Programme”.

“We still cannot believe that we won the UPPP competition 2015, but we are really excited. Competing with more than 3000 students from 53 countries was a great challenge, and we feel very honoured to be on the first place. We participated in UPPP to begin a real adventure and progress our future career. The competition proved to be a challenging and intense time, but we enjoyed working together as a team on the project and present our ideas to the audience. It feels great to be acknowledged for something we are passionate about.”, said team Oil Fnatic.

Second place goes to Geomatrix from AGH University of Science and Technology, Poland, and the third place goes to Next Oil Generation team from Middle East Technical University, Turkey. MOL Group’s programme UPPP is in line with the corporate strategy: MOL Group attracts top talents through its innovative, award-winning talent acquisition programmes.

About the UPPP Technical Placement Programme
The "UPPP Technical Placement Programme" is an 18-month development programme for young professionals that focuses on the Exploration & Production sector. The programme is based on four pillars, which entail practical experience and training modules. The main objectives are to develop essential entrepreneurial skills and technical expertise at the same time.

For more information about UPPP please visit: www.uppp.info and www.facebook.com/moluppp


About MOL Group
MOL Group is an integrated, independent, international oil and gas company, headquartered in Budapest, Hungary. It is active in over 40 countries with a dynamic international workforce of 27,000 people and a track record of more than 100 years in the industry. MOL’s exploration and production activities are supported by more than 75 years’ experience in the hydrocarbon field. At the moment, there are production activities in 8 countries and exploration assets in 14 countries. MOL Group operates four refineries and two petrochemicals plants, under integrated supply chain management, in Hungary, Slovakia and Croatia, and owns a network of nearly 2,000 service stations across 11 countries in Central & South Eastern Europe.

UPPP Press Service:
Mariella Kaluza Isabelle Hein
F&H Public Relations GmbH F&H Public Relations GmbH
Brabanter Strasse 4 Brabanter Strasse 4
80805 Munich 80805 Munich
Phone: +49 (89) 12175-133 Phone: +49 (89) 12175-150
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