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MOL Group completed the acquisition of LUKOIL service stations in the Czech Republic

  • MOL Group successfully acquired 44 service stations from LUKOIL
  • MOL Group’s strategic target is to become a number one choice for Czech customers in fuel and convenience retailing
  • Existing products and services at LUKOIL service stations as well as fuel cards will remain

Budapest, HUNGARY, 3rd December, 2014 Today, MOL Group successfully completed the takeover of the business activities of LUKOIL Czech Republic s.r.o. in the Czech Republic, including 44 LUKOIL service stations. This step will significantly contribute to improving MOL Group’s market position and the intention of becoming a leading retailer company in selling fuel and non-fuel goods and services. MOL Group currently operates 192 service stations under Slovnaft, Pap Oil, and Lukoil brands in the Czech Republic, which are planned to be united in the course of 2015 under two strong brands.

"MOL Group significantly strengthened its retail position by acquiring LUKOIL’s service stations in the Czech Republic which will help us to further grow and also to become a number one choice for customers," said Lars Höglund, MOL Group Retail Senior Vice President.

"Through this transaction, we are represented by three brands – Slovnaft, Pap Oil and LUKOIL on the Czech market. We aim to introduce MOL brand, which identifies our service stations in Hungary, Romania, Serbia, Slovenia and Austria as well, while keeping the currently operating Pap Oil brand" added Lars Höglund.

MOL Group is committed to offer products and services to all its customers of superior quality and to continually innovate and develop its service stations. Following the takeover, a new range of high quality lubricants and auto chemicals with MOL branding will also be introduced to LUKOIL service station customers.

The offer of fuels and services, including fuel cards, remains unchanged by the acquisition at Lukoil service stations.

MOL Group also announced the acquisition of 208 ENI service stations in three CEE countries, including the Czech Republic in May, 2014. After meeting all the contractual terms and concluding this transaction, MOL Group will be among the ten largest companies in the Czech Republic.

Slovnaft and MVM made a non-binding bid to purchase Slovenské elektrárne shares

  • The two companies made a non-binding joint bid to purchase 66% of SE shares owned by ENEL
  • The partnership would strengthen the security of supply in the CEE region
  • A successful bid would open-up new export opportunities
  • The transaction is in line with the EU’s single energy market plans

Bratislava, SLOVAKIA - 20th November 2014 – Slovnaft (a member of the MOL Group) and the MVM Group made a joint non-binding bid for the purchase of 66% of the Slovakian Slovenské elektrárne (SE) a.s shares, currently owned by ENEL SpA.

The bid is in-line with Slovnaft’s overall long-term business strategy to maintain and further strengthen its positions in the regional energy market by diversifying its oil and gas portfolio.

With this regional partnership the vertically integrated energy company MVM Group aims to develop further and expand its business portfolio in the CEE region. MVM Group has also more than 30 years of experience in nuclear power plant operation.

Both Slovnaft and MVM Group see great potential in managing SE’s nuclear and water plant capacities as both companies aim to provide emission-free energy to regional markets.

Acquiring the stake in SE would strengthen the security of supply of the CEE region both in the field of electricity and natural gas contributing to the development of the EU's single energy market.

A successful bid would also open-up new export opportunities to regional markets and would also facilitate the creation of additional working places in the mid-term.

About Slovnaft

SLOVNAFT Group is an integrated refinery-petrochemical group. It´s key company is SLOVNAFT, a.s. dealing mainly with refining in one of the most complex European refineries and with the wholesale and retail sale of motor fuels. Slovnaft operates the largest network of filling stations in Slovakia. The company is a leader in Slovakia in the field of CSR and corporate philanthropy, significantly supports sport, culture, education, youth and revitalizing of environment. SLOVNAFT Group is a member of international MOL Group.

About MVM Group

The MVM Group is a vertically integrated regional player with more than 50 years of energy industry experience. Its strategic mission is to guarantee the security of energy supply to the CEE Region and at the same time - due to its significant system balancing reserves - to ensure the stability of the regional power system and the maintenance of its capacities. The MVM Group’s portfolio covers electricity production, trade and transmission and also natural gas trade and storage services. MVM has the know-how of building, operating and developing (uprating) nuclear power plants. The company is currently managing a lifetime extension program to extend the operational life of its four nuclear units in Paks which are similar to the units operated by SE. MVM Group´s annual revenues reach over EUR 3 billion and with total assets roughly around EUR 4.7 billion.

About SE

With a market share of appr. 80%, SE is the leading power generator in Slovakia with a total installed capacity of 5,740MW and a balanced generation mix comprising nuclear, hydroelectric, conventional thermal facilities and photovoltaic plants.

                         

MOL Group Sponsors Archaeological Expedition in Kurdistan Region of Iraq

  • A joint Hungarian-Kurdish team to explore the historically and touristically significant Kurdish Dwin Castle
  • Mission is led by internationally acclaimed archeologists Dr Balázs Major and Dr Zidan Bradosty
  • First results of the five year excavation project are already expected in early 2015

Erbil, Kurdistan Region of Iraq – 13th November, 2014 – An archaeological concession agreement for the excavation of one of the most important sites of Kurdish history, Dwin Castle and its surroundings, was signed today between Pázmány Péter Catholic University and the Directorate of Antiquities in Erbil.

Prior to today’s signing ceremony, the project has been already approved by the Kurdish Council of Ministers, the Ministry of Municipality and Tourism and the Directorate of Antiquities of Erbil. “We are delighted to sign this agreement today for the excavations of Dwin Castle, which according to local tradition had belonged to Saladin’s family and carries a special significance for the Kurdish people and their national identity. We believe that this project will also greatly contribute to the growing tourism industry of the region.” – said Dr Kaify Ali, the Deputy General Director of the the Kurdistan Regional Government’s General Directorate of Antiquities.

The archeological expedition of Dwin Castle is part of a long term higher education and research cooperation between Pázmány Péter Catholic University in Budapest and the Salahaddin University in Erbil, which aims at exploring the region’s castles dating back to the Middle Ages. Picturesque Dwin Castle is located on the top of a hill 60 kilometers north-east from Erbil in a mountainous area. The excavation team will initially conduct a geodetic survey and a 3D scanning of the perimeter wall and will document the surrounding archeological remains such as buildings and the cemetery.

On behalf of the Hungarian university, the agreement was signed by its archeology department head and expedition leader Dr Balázs Major, who said: “I’m honored to be a part of this important project as the joint Hungarian-Kurdish excavation will not only establish important evidence about these historic sites, but it will also contribute to international knowledge sharing among the researchers and to the training of students. I would also like to thank MOL Group for their generous support.”

The signing ceremony was also attended by Szabolcs I. Ferencz, MOL Group Senior Vice President for Corporate Affairs, who explained that “We are glad that our excellent relationship with our Kurdish partners is further enhanced through this important cultural initiative and we look forward to hearing about the first results soon. MOL Group was among the first international oil companies to enter Kurdistan Region of Iraq and ever since it has been highly committed to support the Kurdish culture and the development of local communities. Besides the presently signed archaelogical cooperation, MOL Group is proud to launch a joint donation project with our professional partner, the Hungarian Interchurch Aid, to help internally displaced refugee families in Kurdistan.”

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. Ever since, MOL Group’s commitment to local communities has been demonstrated by various projects such as the construction of schools, community centers, roads, sport facilities as well as support for educational projects and humanitarian causes.

MOL Group’s Successful Bidding in UK 28th Seaward Licensing Round

  • MOL Group has been offered four attractive licenses in the UK Continental Shelf
  • MOL Group completed its first acquisition in the North Sea in March 2014

Budapest, Hungary – 13th November, 2014 MOL Group proudly announces that it has been offered four licenses, all as operator, on the UK Continental Shelf as part of the UK’s 28th licensing round.

All offered licenses have Drill or Drop well obligations and are located in the Central and Northern UK North Sea.

MOL Group has focused on its strategic play knowledge and capabilities and will be seeking to further define and de-risk these latest license additions to its current UK portfolio of assets through quantified and technology driven exploration.

MOL Group is extremely pleased to have secured a number of highly prospective licenses in the UK Continental Shelf as operator. MOL Group looks forward to working with experienced industry partners in order to technically mature these licenses and progress to the exploratory drilling phase.

The offer of awards will be confirmed following negotiations between MOL Group and the UK Department of Energy & Climate Change.

MOL Energy UK Ltd. (100% subsidiary of MOL Group) was established in Aberdeen in March 2014. The company completed its first acquisition of 14 offshore licenses in March 2014, and will acquire a further six offshore licenses later this year when its ongoing sales transaction with Premier completes. The recently announced leadership team supports MOL Group’s growth strategy in the North Sea region.

MOL Group Announces Strong Results for Q3 2014

  • MOL Group generated a clean CCS EBITDA of HUF 164bn  (USD 696mn) exceeding the previous quarter’s figure by 72%
  • Rising production in Upstream with increasing contribution from Kurdistan
  • Outstanding quarterly performance of Downstream as a result of efficiency improvement and better macro environment

Budapest, Hungary - 6th November, 2014 Today, MOL Group announces its financial results in the third quarter with enhancement on its Upstream business division through official approval of the Akri-Bijell field development plan in Kurdistan and with slightly rising contribution of the CEE region. Downstream business had an outstanding quarter as a result of its efficiency improvements and the seasonally better environment.

In the third quarter of the financial year, MOL Group generated a clean CCS EBITDA of HUF 164bn (USD 696mn) exceeding the previous quarter’s figure by 72%. This increase came mainly from a huge improvement in Downstream, while Upstream’s contribution was also on the rise.

In the Upstream business, MOL Group reversed the declining trend in production as the overall CEE contribution rose slightly and production from Kurdistan was ramped up. The decreasing price of Brent resulted lower realized hydrocarbon prices but this was off-set by a significant weakening of the HUF. EBITDA, excluding special items, rose in line with lower exploration expenditure and a higher level of collected Egyptian receivables.

Downstream reached one of its best ever quarterly results. This exceptional performance is attributable to a threefold increase in clean CCS-based EBITDA to HUF 81bn (USD 345mn) which is a clear sign of successfully implemented efficiency improvement measures and, on the other hand this is a result of an improving macro environment. Seasonally higher sales volumes and improving margins boosted both Petrochemical and Retail performances.

Zsolt Hernádi, MOL Group Chairman and CEO, comments:

"This was a strong quarter for MOL with lots of good news. As forecasted, Upstream production reverted to growth and we see significant upside potential in the coming quarters as well. A major breakthrough supporting this assumption is the official approval of the Akri-Bijeel Block Field Development Plan.

As far as Downstream is concerned, I’m glad to say that MOL achieved one of its best ever quarterly results. This is not only the reflection of a seasonally better environment but also clearly demonstrates our successes in continuous efficiency improvements. During the quarter, we announced the expansion of our CEE Downstream coverage by acquiring the Lukoil network in the Czech Republic. We are still pursuing further organic and inorganic growth projects to lay the foundations of future value creation.

MOL confirmed its position within the MSCI Global Sustainability Indexes. Our membership in the MSCI Emerging Markets Index shows that the Group has high ESG (environmental, social and governance) performance compared to our sector peers.

Finally, in highly competitive conditions, MOL signed an over USD 1.5bn revolving credit facility agreement which extends our maturity profile and increases further our financial flexibility to execute our growth strategy.”

MOL Group Significantly Strengthens its Financial Position through Credit Facility Agreement

  • MOL Group signed revolving credit facility agreement worth USD 1.5 billion
  • MOL Group achieved highly competitive conditions
  • The credit facility agreement further enhances MOL Group’s financial profile and liquidity

BUDAPEST, Hungary – 31st October, 2014 – MOL Group has signed a USD 1,550 million revolving credit facility agreement (“Agreement”) with a group of 15 banks. The new facility refinances the EUR 500 million revolving credit facility which expired in September 2014 as well as the USD 545 million revolving credit facility concluded in April 2013. MOL Group achieved through the deal highly competitive conditions with margin of 115 basis points.

The facility has been arranged with a group of main relationship banks of MOL Group. The tenor of the Agreement is 5 years with 1+1 year extension options. The new facility further enhances the financial profile and the liquidity position of MOL Group and contributes to preserve its existing commercial banking partnerships while introducing new lenders as well.

The Agreement is coordinated by Crédit Agricole Corporate and Investment Bank and ING Bank NV; Bank of America Merrill Lynch is the facility agent.

József Simola, MOL Group CFO comments the deal: “I am proud that MOL Group again proved to be among the top borrowers in the region. Originally our intention was to refinance the expiring EUR 500 million revolving credit facility. Due to the great market response we contracted a significantly higher amount at a substantially lower price level. The deal shows that the market has confidence in MOL Group and has appetite for its healthy risk profile.”

Akri-Bijeel Field Development Plan Approved

  • The Kurdistan Regional Government’s Ministry of Natural Resources approves FDP for
    Akri-Bijeel Block
  • MOL Group is committed to maintain its presence and increase investments in Kurdistan
  • MOL Kalegran Ltd. (a 100 % subsidiary of MOL) has been an operator in Kurdistan since 2007

BUDAPEST, Hungary – 30th October, 2014 – The Field Development Plan (FDP) for the Akri-Bijeel Block in Kurdistan has been officially approved by the Minister for Natural Resources. Key terms of the related Lifting Agreement and Pipeline Construction Agreement are under discussion with the Ministry of Natural Resources. The FDP relates to two commercial discovery areas in the Akri-Bijeel block, the Bijell and the Bakrman areas.

MOL Kalegran Ltd. (a 100% subsidiary of MOL) has been operating in Kurdistan since 2007 and is the Operator of the Akri-Bijeel Block. The Operator announced two commercial discoveries in the Block. The FDP is based on these two discovery areas, i.e. Bijell area and the Bakrman area. The development will be done in two phases, phase one objective is to allow the Operator to better determine key factors such as the reserves base, recovery factor, optimum surface facility design and overall field development cost. Phase I will start immediately with 4 drilling rigs and 1 work over rig to help reduce the overall timeline with front-end-loading wherever possible for Phase II.

Mr. Alexander Dodds, Executive Vice President for MOL Group E&P commented:

We are very pleased that the Ministry of Natural Resources approved the FDP (field development plan) for Akri-Bijeel Block, by His Excellency Minister for Natural Resources Dr Ashti Hawrami’s favorable resolutions and signature. This is a significant mark of appreciation for our plans of long-term close cooperation in Kurdistan, as MOL Group is committed to maintain its presence and increase investments in the region. His Excellency Dr Ashti Hawrami was greatly appreciative of the endeavours and investment MOL is making to help KRG to establish a significant position in oil production.“

MOL Group Included in the MSCI Global Sustainability Index

  • MOL Group is recognised for its environmental, social and governance performance
  • MOL Group is in the best in class “AA” category
  • MSCI Global Sustainability Index covers more than 5000 publicly traded companies worldwide with 335 constituents of the emerging markets from all sectors.

Budapest, Hungary - 7th October, 2014 MOL Group proudly announces to be a member of MSCI ESG (environmental, social and governance performance) Emerging Market Index, which a subcategory of the Global Sustainability Index, as a recognition of its outstanding corporate sustainability performance. The earned “AA” rating places the company among the leading companies in the emerging markets.

MOL Group is confident that corporate sustainability and long term profitability are complementary and operates governance and management systems to increase its ESG performance and ratings for more than a decade. The internationally acknowledged MSCI Sustainability Index is recognition of the company’s aspiration to operate in a responsible way. MOL Group’s “AA” rating expresses the company’s high engagement in ESG compared to sector peers.

József Simola, MOL Group Chief Financial Officer commented: “We are aware about the growing importance of sustainability criteria for certain investor communities and this recognition is an important feedback that we are on the right track and we will continue our programs to ensure long-term sustainability of our business.”

MSCI highlighted MOL Group’s strong rating is a function of the company's carbon management practices, and its industry leading approach to avoiding accidents, spills and releases. Moreover, its management practices, such as emissions reductions targets and its outstanding performance figures in areas such as toxic emissions intensity and occupational safety sets the Company above the majority of its industry peers.

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 activities in 8 countries and exploration assets in 12 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.

About MSCI ESG Research

MSCI ESG Research is a leading provider of ESG ratings and analysis to the global investment community, covering more than 5,000 publicly traded companies worldwide. MSCI ESG Research represents over 125 Asset Owners with more than USD $4.4 trillion in assets under management, and has over 650 clients with USD 15 trillion in assets globally. MSCI emerging markets consists of large and mid-capitalized companies across 23 emerging market countries.

MOL Group Launches Program “UPPP”

  • UPPP is an international E&P competition for geoscience and petro-technical students at selected universities
  • The top three teams will win a total of 20,000 Euros and will get the opportunity to join MOL Group and start their careers through the "UPPP Technical Placement Program"
  • Registration for the UPPP online simulation game will be open from 1st to 23rd October 2014
  • In the UK, the contest is open to students at The Institute of Petroleum Engineering (Heriot – Watt University), Robert Gordon University in Aberdeen, The University of Aberdeen and The University of Strathclyde in Glasgow

BUDAPEST, Hungary – 1st October, 2014 - MOL Group is a leading international oil and gas company headquartered in Budapest. It is launching a new E&P talent acquisition and development program to students and graduates in the fields of geoscience and petroleum engineering. Students at selected universities in 14 countries ranging from the UK and Central Europe through to the Middle East can apply via the UPPP online simulation game from 1st to 23rd October 2014. The top three teams will then get the opportunity to join MOL Group and start their careers through the 18-month “UPPP Technical Placement Program” as well as being in with a chance of winning up to €20,000.

 "We are proud of our new UPPP Program, that offers qualified top talent the opportunity to join MOL Group’s Upstream division. UPPP is dedicated to those students who are open to real-life challenges and dare to enter an exciting challenge", said Zdravka Demeter Bubalo, HR Vice President of MOL Group.

There are two rounds to the game and students must be in teams of three to apply. The first round is an online simulation game where participants have to solve industrial and strategic challenges in virtual scenarios. The tasks involve case studies taken from real situations within MOL Group’s E&P portfolio. The second round is the live final.

You can find more information about UPPP as well as the other award-winning talent acquisition programs at www.facebook.com/moluppp or www.uppp.info and www.uppp.info/intro

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 will have the opportunity to apply for the competition. Students will 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.

MOL Energy UK Rounds Out Experienced Management Team to Support Further Growth in the North Sea Region

  • MOL Energy UK attracts top industry expertise to further strengthen its growth strategy in the North Sea region
  • MOL Energy UK (100% subsidiary of MOL Group) runs its regional office in Aberdeen since March 2014
  • MOL Group has a strong balance sheet to invest USD 1 bn CAPEX per year organically in Upstream

ABERDEEN, 24 September 2014 - MOL Energy UK is pleased to announce the completion of its senior management team, the culmination of a six-month search of the international oil and gas market. The Aberdeen based company had its first acquisition (worth USD 430 mn) in December 2013 and actively looks for further growth opportunities in the North Sea region.

Most recent hires include Subsurface Director Jonathan Chapman (previously of BP, BG, and Centrica), Steve Kemp, who joins as Operations and Technical Director from Centrica where he led the southern North Sea business unit through a period of significant growth, and Neil Robertson, previously Group Managing Director at SPD, who comes on board as Wells Director.

All three bring with them at least 25 years’ experience in the upstream industry, and will add to and strengthen the trio that managed MOL Energy UK through its initial months: Managing Director Chris Bird, Finance Director Caroline McGovern and Integration Director Paul Lindop.

MOL Group entered the North Sea at the end of last year in a deal with Wintershall to acquire assets in 14 offshore licences. In June, MOL Energy UK (with its partners Premier Oil and Cairn Energy) received approval for the Catcher area Field Development Plan. In the same month, the company completed a sale and purchase agreement with Premier Oil for offshore assets in 6 further licences.

Completion of the senior management team closes out the first phase of MOL Group’s presence in Aberdeen. Over the coming months and into 2015, MOL Energy UK is looking forward to the successful outcome of its submission to the 28th UK licensing round. It will also proactively be considering further acquisition and partnership opportunities in the North Sea.

Chris Bird, Managing Director of MOL Energy UK, said: “I am delighted that MOL Energy UK has been able to attract such a broad range of knowledge and expertise to join its leadership team. With the team in place, we are now in a great position to exploit future opportunities for growth in the North Sea.”

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