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Stevie Award for MOL Group’s UPPP Communications Campaign

  • MOL Group won the Bronze Stevie Award 2015 in Germany for its PR campaign for the international Exploration & Production (E&P) UPPP Program.
  • The PR campaign was implemented in 10 countries to attract top talents to MOL Group’s E&P division.
  • UPPP Technical Placement Program provides unique career start for top talents by offering them Business curricula, a Technical curricula, MOL Group HQ exposure and on-site experience.

Budapest, 26th February 2015 – Today MOL Group, a leading international oil & gas company, received the Bronze Stevie® Award in the 11th Annual International Business Awards (IBA), the world’s premier business awards competition. MOL Group won the award in the category ‘reputation and brand management communication PR campaign’ for its UPPP program, a new E&P talent acquisition and development program for students and graduates in the field of geoscience and petroleum engineering.

“We are delighted to be recognized by such a prestigious, global organization which validates MOL Group’s commitment to raise awareness of our talent acquisition and development programs. I am especially proud to win a PR award in Germany, which is one of the most competitive media markets of the world”, says Dominic Köfner, Vice President for Corporate Communications, MOL Group. “Via our award-winning talent programs, we create opportunities for top talents who are ready to embrace challenges in an international environment.”

UPPP Technical Placement Program offers qualified top talents the unique opportunity to join MOL Group’s Upstream organization and to start their career in a prestigious international company. Students could apply for the program through a two-phase competition in 2014. The PR campaign for the program was developed by the German communication agency F&H Porter Novelli to raise awareness among the target group in 10 countries. With the motto „Enter if you Dare!” MOL Group was searching for petro-technical students for its Upstream business. By implementing PR tactics such as speed interviews, webinars and an editorial tour, MOL Group successfully attracted almost 3000 students from 27 selected universities in 14 countries.

For further information about the campaign, please visit,,


About the Stevie Awards

Stevie Awards are conferred in six programs: The International Business Awards, The American Business Awards, the Asia-Pacific Stevie Awards, the Stevie Awards for Women in Business, and the Stevie Awards for Sales & Customer Service. The sixth program, the German Stevie Awards, opens for entries on 18 August. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at

MOL Group Announces 2014 Full Year Results

  • MOL Group delivered a clean CCS EBITDA of HUF 510bn (USD 2.2bn) nearly matching 2013 results
  • Downstream business performed outstandingly well and delivered the best Q4 result in a decade
  • Upstream production is growing from second part of last year and volume topped original 2014 targets
  • MOL Group has also announced its Next Downstream Program for 2015-2017

Budapest, 24th February, 2015 – Today, MOL Group announced its financial results for 2014. Downstream clean CCS-based EBITDA was 31% higher than in the previous year. Average daily hydrocarbon production reached 98,000 barrels of oil equivalent per day, above the original 2014 target of 91-96,000. The Group’s financial position remains strong with net gearing at 19.6%.

In 2014, MOL delivered a clean CCS EBITDA of HUF 510bn (USD 2.2bn) which is a mere 1% decrease compared to 2013. The Upstream business exceeded the forecasted production level at 98,000 boepd in 2014, above the original target of 91-96,000 and also surpassed the 100% organic reserve replacement ratio. Upstream clean EBITDA reached HUF 270.9bn (USD 1.2bn), 24% lower than in the previous year, which is mainly attributable to a lower oil price environment, the natural decline of matured assets and adverse regulatory changes. The combined negative effect of regulated gas price reduction and doubled royalty in Croatia reached HUF 20bn in 2014.

The Downstream division’s clean results of HUF 205.2bn (USD 870mn) are 31% ahead of similar figures of 2013. The implemented efficiency improvement measures within the successfully completed New Downstream Program, the improved refinery and integrated petrochemical margin, and a better retail performance accounted for the positive contribution. Downstream business delivered its best Q4 performance within the last ten years as clean CCS EBITDA reached HUF 73bn (USD 300mn).

Gas Midstream’s contribution of HUF 36.9bn (USD 160mn) is more than 37% lower than in previous year as a result of forced gas inventory sale due to regulatory changes in Croatia and lack of storage revenues following the sale of MMBF in Q4 2013. The decreasing trend of indebtedness ratio changes stopped due to recent asset acquisitions: net gearing ratio increased to 19.6% at the end of the period increasing by over 4% against the base period, while net/debt to EBITDA reached 1.31 by the end of the quarter.

“2014 proved to be a strong year for MOL Group, notwithstanding that we already felt the effects of the changed oil price environment. Our full year results clearly demonstrate the strength and resilience of our integrated business model. Our Downstream business delivered outstanding results, especially in the second half of the year. Having successfully completed the three year New Downstream Program, we press ahead with the Next Downstream Program, which will implement additional efficiency improvement measures as well as growth projects leading to USD 500 million Downstream EBITDA improvement with very strong free cash flow generation over the coming years. In line with our forecast, Upstream delivered production growth from the second half of the year and we are determined to deliver around 10% growth in 2015. We have also succeeded in surpassing the 100% organic reserve replacement ratio in 2014, which is yet another very good sign from a future growth perspective. In terms of acquisitions we can benefit from the lower oil price environment and we are ready to act if the right opportunity arises.” – commented Chairman-CEO Zsolt Hernádi the results.

MOL Group has also announced today its Next Downstream Program, which aims to maximize free cash flow generation with further efficiency improvements and add-on growth projects. The program targets $1.3bn EBITDA and $0.9bn normalized free cash flow by 2017 based on the 2014 macro environment. In Retail the focus is on growth in non-fuel sales and on further acquisitions.

MOL Group is the Main Sponsor of Norbert Michelisz in 2015

  • As a sponsor of talents, MOL Group is main sponsor of Zengő Motorsport and Hungarian racing car driver Norbert Michelisz in the 2015 World Touring Car Championship (WTCC)
  • This is the fourth year of the successful cooperation between Norbert Michelisz and MOL Group
  • MOL Group fuels the ambition of top talents and sportsmen who challenge themselves and their competitors

Budapest, Hungary, 12 February, 2015 – In 2015 MOL Group, a leading international oil and gas company, will be the main sponsor of Zengő Motorsport and WTCC racing car driver Norbert Michelisz for the fourth consecutive year. This cooperation underlines MOL Group’s corporate philosophy to support top talents and sportsmen – be it in sports or in business areas such as the oil and gas industry – to achieve their life-long ambitions.

MOL Group is set to continue its successful partnership with Zengő Motorsport and the Hungarian racing driver Norbert Michelisz. “We are delighted to support Norbert as one of the best racing drivers in the WTCC and we fuel his ambition to become world champion. This is a truly ideal partnership since – just like us – Norbert Michelisz is challenging his competitors through his courage, discipline and ambition” explains Dominic Köfner, Vice President and Head of Corporate Communications at MOL Group. The group has a close connection to motorsport: MOL Group member company Panta Distribuzione S.p.A. is the official fuel supplier for WTCC.

The ambition to grow drives both Michelisz and MOL Group

Norbert Michelisz and MOL Group share the ambition to compete on an international field. Michelisz followed an unusual track to enter motorsports by training himself through simulation games. “I have constantly been challenging myself in order to achieve my life-long ambition: to be the best. MOL Group provides me with maximum support because ambition and a challenging attitude are key values to the company”, said Norbert Michelisz, WTCC driver. Michelisz finished fourth in the 2014 WTCC season after having gained seven podium results in 2013. In 2015 he is to start his fourth season of the WTCC supported by MOL Group.

MOL Group’s commitment – supporting young talents and sportsmen

The cooperation with Norbert Michelisz is in line with the company’s corporate strategy. It highlights the idea and the passion of MOL Group to support young talents in order for them to realise their life-long ambition. “As a company we have the ambition to enter new markets and grow fast internationally. Therefore we are always looking for young talents and sportsmen in our industry by utilizing our award-winning talent acquisition programs”, said Dominic Köfner.


About MOL Group
MOL Group is an integrated, independent, international oil and gas company, headquartered in Budapest, Hungary. It has operations in over 40 countries and employs almost 29,000 people worldwide. MOL’s exploration and production activities are supported by more than 75 years’ experience in the hydrocarbon field. At the moment, there are production plants in 8 countries and exploration assets in 13 countries. The Group operates four refineries and two petrochemicals plants, under integrated supply chain management, in Hungary, Slovakia and Croatia. MOL Group also owns a network of over 1,700 service stations across 11 countries in Central & South Eastern Europe.

Press Contacts
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MOL Group Wins the 2014 Best CEE Syndicated Loan Deal

  •       MOL Group has been awarded for its landmark USD 1.55 billion syndicated loan deal
  •       MOL Group competed with KGHM Polska USD 2.5 billion and Slovak Gas USD 2.42 billion deals
  •       Global Capital Syndicated Loan and Leveraged Finance Awards recognizes best in class banks, borrowers and transactions worldwide

LONDON, United Kingdom, 12th February 2015 – MOL Group has been recognized by Global Capital (ex EuroWeek) Syndicated Loan and Leveraged Finance Awards for its revolving credit facility agreement worth USD 1.55 billion with a group of 15 banks. MOL Group achieved through the deal highly competitive conditions with a margin of 115 basis points with 5+1+1 years maturity available to top quality borrowers only.

MOL Group’s outstanding approach to access funds has been recognized by Global Capital, a leading news, opinion and data service for the financial market players. The award-winning credit facility further enhanced the financial profile and the liquidity position of MOL Group and contributed to preserve its existing commercial banking partnerships while introducing new lenders as well.

„We are honoured to receive this prestigious award which recognizes our ambition and capability to conclude this landmark transaction both from amount and tenor perspective. The deal confirmed that the market has strong appetite for MOL Group's risk profile.”- Zsuzsanna Ortutay, Director of MOL Group Treasury added.

The Awards are based entirely on market opinion and as such they are a highly credible recognition of which banks, borrowers and transactions have most impressed market participants each year.

About GlobalCapital Awards

The GlobalCapital Syndicated Loan and Leveraged Finance Awards are the European market’s leading Awards and annual celebration of achievement in this field.The nominations are published in GlobalCapital’s Review of the Year at the beginning of January, and then viewed by the Loan Syndicate Managers’ Forum, which give feedback on the nominations. 


MOL Group Wins HR Distinction Award

  • MOL Group was awarded with the HR Distinction Award in the category of Employer Branding
  • Successful employer branding framework to stimulate business growth and increase employee diversity  

BUDAPEST, Hungary - 10th February 2015 – MOL Group, a leading international oil and gas company, wins the prestigious HR Distinction Award in the category of Employer Branding. This award recognises MOL Group’s effort in building its reputation as the employer of choice and acknowledges its excellence in recruitment. The award was presented at the annual HR Distinction Awards Gala Dinner in Birmingham (UK) to celebrate excellence in HR projects.

“We are delighted to be recognised by the HR Distinction Awards in Employer Branding for the work the team have put in. After the creation of a new Global HR in 2012, our team of international HR leaders and experts has achieved outstanding results in building a common global framework for employer branding and successfully established a new corporate identity”, said Zdravka Demeter Bubalo, HR Vice President of MOL Group.

The goal of the employer branding project was to increase employee diversity by improving global winner attraction and retention and to further stimulate business growth. Thus, MOL Group underlines its ambition to be the employer of choice for the brightest and the best. In its unique, international, award-winning talent acquisition programs: UPPP, GROWWW and FRESHHH the company put a focus on storytelling by engaging employees to communicate and used viral as well as social media approaches.

Judges’ comments from the HR Distinction awards said “Using their measurement and metrics to reach out internationally, MOL Group did this successfully demonstrating a clear link with the company strategy.”

The HR Distinction Awards celebrate the outstanding contribution that innovatively designed and superbly executed HR strategies make to business performance and the bottom line. The winning criteria reflect the role and requirements of next generation HR strategies – to ensure that the right skills, the best people and the right management tools are in place to elevate the organisation’s performance.

MOL Group and Transpetrol Completed the Reconstruction of the Friendship I/Adria Oil Pipeline

  • MOL Group and Transpetrol have made an energy investment of strategic importance in Central Europe
  • The pipeline’s annual capacity was significantly increased from 3.5 million tons to 6 million tons
  • This investment enables MOL Group to meet the oil needs of its Bratislava Refinery from the Adriatic

Budapest, 9th February, 2015 - MOL Group and Transpetrol finished the reconstruction and capacity expansion of the Friendship I/Adria oil pipeline leg between Százhalombatta and Ipolyság in Slovakia. As a result of this strategic investment, Hungary, Slovakia and the Czech Republic will now be able to further diversify their energy supplies thus significantly improving regional energy security.

In March, 2014, MOL Group and Transpetrol started to fully renovate and increase the capacity of the Friendship I/Adria oil pipeline opened in 1962. The investment was badly needed because the pipeline had become worn out over the years. 

In less than one year, the network pipes comprising 7,000 17 metre-long pieces along a 128 km section, starting from Sahy, Slovakia to Tököl (119 km in Hungary and 9 km in Slovakia), were replaced with pipes of larger diameter while sectioning stations were also renovated. Thanks to these the transportation capacity of the pipeline was significantly increased to 6 million tons from 3.5 million tons a year. 

The total cost of the investment amounted to USD 80 million.

Besides the reconstruction of Friendship I/Adria pipeline, MOL Group also increased the capacity of the Hungarian section of the Adria oil pipeline, connecting the Adriatic Sea with Slovakia from the present annual 10 million tons to 14 million tons.

This investment is of strategic importance since it enables MOL Group to meet the oil needs of its Bratislava Refinery from the Adriatic. Thus Hungary’s and Slovakia’s security of supply has significantly improved while the degree of their currently one-sided dependence decreases. The section with extended capacity may well contribute to the Czech Republic’s security of supply as well – through this route, Czech refineries can also receive crude oil from a new source.

Sándor Fasimon, COO of MOL Hungary commented: “The reconstruction work was implemented quickly and successfully in less than a year, showing that MOL Group is strongly committed to enhancing the regional security of supply. The reconstruction of the Hungarian and Slovakian sections of Friendship I/Adria was of regional interest. Not only will both countries as well as MOL Group enjoy greater energy security but it will also impact the whole Central European region very favourably.”

MOL Group Completes the Acquisition of ENI Service Stations in Romania

  • MOL Group has successfully acquired 42 service stations from ENI, all located in high traffic areas
  • In 2015, MOL Group’s service station network in Romania will reach approximately 200 units
  • The acquired 42 service stations will be rebranded under the MOL name

Bucharest, Romania - 2nd February 2015 MOL Group has successfully completed the acquisition of ENI Romania, including 42 service stations. This step will significantly contribute to further strengthening MOL Group’s market share in Romania. MOL branding elements are to be swiftly applied to the acquired network.

"This transaction greatly contributes to MOL Group’s objective of increasing its retail market share in CEE in general and its country-wide coverage in Romania in particular. We are committed to developing our activities in Romania, for the long-run. We constantly seek to improve our customer experience and offer a great variety of non-fuel products." - said Lars Höglund, Senior Vice President, MOL Group Retail.

In 2015, as a result of integrating the acquired network, MOL Group will reach a network of approximately 200 units in Romania. Following the successful rebranding of the newly-acquired network under the MOL brand, the company will continue to offer motorists in Romania high quality services such as the MultiBonus loyalty program. Moreover, fuel card partners will greatly benefit from this enhanced coverage, especially in Southern Romania.

"MOL Romania is a customer focused corporation and over the last few years, we have constantly re-invested most of our profits in enlarging our network, improving our services and our team’s skills. Our main objective is to have a quick rebranding process and to offer more customers top quality products and services as soon as possible in all our newly-acquired service stations”, said Kinga Daradics, Country Chairman & CEO, MOL Romania.

As a consequence of the takeover, ENI Romania will be renamed MOL Retail Comert SRL as of 2nd February. At a later stage, this company will be merged with MOL Romania.

MOL Group Wins Corporate Recognition Award for Innovation and Excellence

  • MOL Group has been awarded for its excellence in the field of corporate finance and funding
  • The award recognizes best in class banks, vendors, consultants and practitioners worldwide

LONDON, United Kingdom, 27th January 2015 – MOL Group has been recognized by Treasury Management International (TMI) with its Corporate Recognition Award for Innovation and Excellence in the field of Corporate Finance and Funding

MOL Group’s innovative approach to corporate finance and funding has been selected as winner by corporate treasurers and industry experts. The awards were given across five categories, representing the most important areas of innovation and excellence in the financial sector.

Zsuzsanna Ortutay, Vice President Treasury commented: „We are honoured to be recognised by this award which is a testimony to our capability to react to the challenging market environment. The awarded practice of MOL Group highlights the utmost importance of strategic thinking on a Group level and its contribution to the regional company’s growth”.

“MOL Group was successful in winning this Award against stiff competition. In particular, we were impressed by MOL Group’s innovative and pragmatic approach to accessing finance at a group level. With regulations such as Basel III continuing to impact on opportunities for corporate financing, MOL Group’s solution is a flagship example of the way in which corporate treasurers are responding to changing market conditions and positioning their organisations for growth.”- added TMI Editor Helen Sanders.

TMI Awards has been established over a decade ago for recognising the banks, vendors, consultants and practitioners who are defining new frontiers and driving best practices in treasury management globally.

About Treasury Management International

Treasury Management International - published in association with the European Associations of Corporate Treasurers - is a well-respected and independent voice in the treasury world, renowned globally for its sharp editorial focus and breadth of opinion. With real-life experiences from practitioners, TMI showcases topical, pragmatic solutions and strategic insights providing valuable material for all practitioners, from experienced treasurers and CFOs to those new to the profession.

Production at Shaikan to Increase Significantly

  • The installation works  to connect three producing wells to the production facilities are now completed
  • First oil from these three wells is expected to flow to production facilities already in December
  • Total production at Shaikan field will increase from around 25,000 to 40,000 boepd
  • Shaikan crude oil exports by truck to the Turkish coast continue uninterrupted

BUDAPEST – 16th December, 2014 – Today MOL Group has announced that the installation works to connect three wells to the existing production facilities have been completed in Shaikan block. With the addition of the three new producing wells, total production will increase to 40,000 gross boepd.

MOL Group’s partner, Gulf Keystone Petroleum Limited (GKP), provided an update on operations at the Shaikan block. In-line with this, MOL Group announces the completion of the installation of the flowlines to connect the Shaikan-7, -8, and -10 wells to the existing production facilities ("PF-1" and "PF-2"). The Shaikan-7 and -8 wells are now tied to PF-1 and Shaikan-10 to PF-2.

The flowlines are currently being hydro-tested and first oil is expected to flow to the production facilities in December. With the addition of the three new producers, the current total production levels of between 23,000 and 25,000 gross boepd will increase to 40,000 gross boepd.

An amine plant is currently being tested at PF-2 to be followed by the similar plant at PF-1 in early 2015. The amine plants will sweeten the associated gas stream allowing it to be used as fuel for the production facilities instead of diesel, representing savings of up to US$400,000 per month to the project.

A rig package is moving to a location in the vicinity of Shaikan-10 in order to drill Shaikan-11, an additional producer. An 11 km flowline to tie this well to PF-2 has already been laid.

Shaikan crude oil exports by truck to the Turkish coast continue uninterrupted.

Alexander Dodds, Group Executive Vice President for Upstream commented:“I’m glad to see that production on Shaikan is going to increase significantly achieving our initial gross target of 40,000 boepd for the block. This will support us in reaching our production increase target on Group level as well as support the KRG to meet its ambitious export targets. We continue to focus our efforts to achieve volumetric increase in our assets in the Kurdistani Region of Iraq and also work together with the Ministry of Natural Resources in order to monetize production the most efficient way.”

MOL Group has been present in the Kurdistan Region of Iraq since 2007, when its subsidiary MOL Kalegran signed a contract for Akri-Bijeel Block as operator and farmed into Shaikan as minority partner.

MOL Group Announces Winners of UPPP 2014 Competition

  • UPPP is an international E&P competition for geoscience and petrotechnical students of selected universities
  • The winning team is ONIONgas from Poland
  • The top 3 teams will be awarded with 20.000 Euro and can start their careers at MOL Group through the "UPPP Technical Placement Program"

Budapest, Hungary, 12th December, 2014 –MOL Group proudly announces today the winners of UPPP Competition. Out of 972 international teams 10 teams participated at the live finals between 9th and 11th of December in Budapest, Hungary. Polish students from AGH University of Science and Technology are ranked as the top team of the E&P competition. MOL Group, a leading international oil and gas company, is looking for top geoscience and petrotechnical talents.

972 three-member teams applied for the talent acquisition program UPPP from 27 universities in 14 countries, ranging from the UK and Central Europe to the Middle East. Top ten teams from 6 countries made it to the live finals which took place from 9th until 11th of December in Budapest. During the live finals, teams had to solve challenging tasks related to the competition motto “Enter if you dare” in a base camp, which was organized exclusively for the top ten teams. In the Live Final event, the best 5 teams had to present their case to MOL Group E&P management. Based on the jury’s evaluation, top three teams won a total of 20,000 Euro and got the opportunity to join MOL Group and start their international career through the 18-month “UPPP Technical Placement Program”.

„We congratulate the top three teams for winning this one of a kind competition. I would like to thank all participants for their endless efforts during the competition. The outstanding results and feedback from the participants are showing us once more that we are heading in the right direction to attract top talents for MOL Group’s challenging E&P assignments. We are delighted to have that positive response and to set a new benchmark“, said Zdravka Demeter Bubalo, HR Vice President of MOL Group.

The first prize goes to ONIONgas team (Jakub Pitera, Dawid Bydlosz, Tomasz Malachowski) from AGH University of Science and Technology, Poland. “The three—day UPPP experience was astonishing. Every part of the program from the accommodation to the Finals was organized to the highest international standard. This has been the biggest adventure of our lives. Final results were completely unexpected, and we think winning the competition is a great kick-start of our careers.” said the winning team.

Second place goes to TeamMechanical from NED University of Engineering and Technology, Pakistan, and third place goes to OIL UP team from University of Miskolc, Hungary.

You can find more information about UPPP at:, and

About the UPPP Competition

UPPP is a special competition to promote MOL Group among graduates in Upstream-related disciplines. In the first year, students from targeted universities had the opportunity to apply for the competition. Students first compete via an online platform by solving industrial and strategic tasks. The tasks and cases will be actual MOL Group E&P cases from Pakistan. The top teams will have the opportunity to compete in the live finals, and the best applicants will be offered to join MOL Group and start their careers through the newly developed “UPPP Technical Placement Program” and to win a total of 20,000 EUR prize money. Students who are not in the final year of their studies will be offered scholarships, training opportunities and options for a summer internship.

About the UPPP Technical Placement Program

The "UPPP Technical Placement Program" is an 18-month development program for young professionals with focus on the E&P sector. The program is based on four pillars, which entails practical experience and training units. The main objectives are to develop essential entrepreneurial skills and technical expertise at the same time. The program will offer on-site experience at two or more international upstream locations, and HQ exposure in MOL Group's headquarters in Budapest.