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MOL Group and TPAO Celebrate Closing of BaiTex Deal

  • Senior TPAO delegation visits MOL Group HQ to celebrate successful closing
  • MOL Group welcomes TPAO as a strong partner for potential future cooperation
  • MOL remains very committed to continue its operations in Russia

BUDAPEST, 30th April 2014 – Today, a senior delegation from the Turkish Petroleum Corporation (TPAO) visited MOL Group HQ to mark the successful closing of the BaiTex deal, which was signed in February 2014. MOL Group and TPAO also hold discussions on potential joint future steps, in line with the establishment of a strategic partnership between the two companies.

MOL Group and the Turkish Petroleum Corporation (TPAO) held a ceremony at MOL Group HQ today to celebrate the successful closing of the BaiTex deal signed in February 2014. MOL divested 49% share of BaiTex, holder of the hydrocarbon licenses for Baituganskoye field and Yerilkinsky block in the Volga-Ural region, Russia.

“MOL Group remains very committed to continue its operations in Russia and has the financial flexibility to re-invest in promising new upstream assets to provide future growth. This step was fully in line with the Group’s portfolio modernization and partnership strategy as both companies have a definite intention to establish a long lasting strong and active partnership in Russia and other areas as well.” – said Alexander Dodds, MOL Group Executive VP for Exploration & Production.

After the ceremony, TPAO and MOL Group also continued their active discussions to identify other potential upstream co-operation opportunities and lay the foundations for a future strategic partnership, which could utilize TPAO’s and MOL Group’s well-established presence in the international oil industry.

“It is our great pleasure to welcome at our Headquarters the representatives of TPAO not only as co-owners of BaiTex, but as our partners. Following our recently announced partnership with Wintershall, we are thrilled to launch another strategic cooperation once again with such a well-respected company. We look forward to working together within BaiTex and to exploring further investment opportunities.” – stressed MOL Chairman-CEO Zsolt Hernádi at the ceremony.

Besim Sisman, CEO of TPAO, said: “It is a very good start for a lasting and strategic partnership between two companies. This transaction will help TPAO and MOL grow further and become more active players in the oil and gas sector. TPAO is also keen to get partnerships with other players in the industry. Our main strategy for international activities is to establish consortia with the major companies, sharing risks and transferring know-how and technology. To fulfill this goal, we have been conducting international activities all over the world. Along with the experience that we have in Russia, we will be seeking for new investment opportunities abroad.”

About TPAO

TPAO is the national oil company of the Republic of Turkey, headquartered in Ankara, was founded in 1954 with the responsibility of being involved in hydrocarbon exploration, drilling, production and marketing activities. It has now three compounds in Turkey which are located in Batman, Adiyaman and Thrace, with approximately 5,000 staff and foreign branches in six countries. With 60 years` experience in the hydrocarbon field, TPAO has been continuing to develop business opportunities in hydrocarbon-rich regions such as Caspian Region, Russian Federation, Middle East, Africa and Latin America. In addition to upstream projects, TPAO is also engaged in natural gas storage, pipeline projects and oil distribution.

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 around 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 Contact

Judit Németh
MOL Group International Communications Expert
m: +36 20 254 5169 | @: Diese E-Mail-Adresse ist vor Spambots geschützt! Zur Anzeige muss JavaScript eingeschaltet sein!

Tamás Berzi
MOL Group International Communications Expert
m: +36 20 409 7632 | @: Diese E-Mail-Adresse ist vor Spambots geschützt! Zur Anzeige muss JavaScript eingeschaltet sein!

MOL Group Annual General Meeting

MOL Holds Successful Annual General Meeting

  • Shareholders approved the report of the Board of Directors regarding finances for the year 2013 and furthermore approved consolidated financial statements
  • The AGM has accepted the Board’s proposal for HUF 60 bn dividend payment
  • Shareholders re-elected Dr. Sándor Csányi and elected Dr. Anwar al-Kharusi, Dr. János Martonyi and Dr. Anthony Radev as members of the Board of Directors
  • MOL's Annual Report on 2013 can be found at www.mol.hu/annualreport2013.

Zsolt Hernádi, MOL Chairman-CEO, commented on last year’s results: “As we expected, 2013 turned out to be a challenging year. However, we succeeded in maintaining MOL Group’s excellent cash-flow generating ability thus expanding our financial headroom even further. This is a solid basis for MOL’s organic and inorganic growth projects. In Upstream we established a new senior management team and also entered a new core region, the UK North Sea area, which should serve as a new hub for further growth in the mid-term. In Downstream, we kept our promise as we delivered better results despite worsening external conditions. MOL continued its New Downstream Program which was launched in 2012 with an ultimate target of USD 500-550mn in cost savings and revenue increases by 2014. In short, in 2013 we built the foundation of a sustainable and decisive international growth strategy for MOL Group.”

Please find attached a few photos of MOL Group’s Annual General Meeting today:

 

 

In case of any further questions please don't hesitate to contact us.

Best regards,

International Media Team

MOL Launches Dedicated Website on INA Conflict

  • In line with MOL’s commitment to full transparency, new resource website to offer detailed information with regular updates
  • The website factually describes how MOL saved INA from bankruptcy, turned it into a profitable company and what this conflict is really about
  • Topics such as MOL’s management control, INA’s corporate governance as well as past and current negotiations with the Croatian Government are also addressed

BUDAPEST, 14th April 2014 – Today, MOL launched the website “MOL’s Investments in INA” (www.molincroatia.com), a regularly updated resource dedicated to providing full information around its investment in the Croatian energy company INA, the Gas Master Agreement and its negotiations with the Government of the Republic of Croatia.

Over the last few months, a number of our stakeholders, from shareholders and employees to business partners and journalists, have sought clarification from MOL on developments surrounding its investment in the Croatian energy company, INA.

As an international publicly traded company, it is MOL’s duty to be fully transparent with stakeholders. With this in mind, and to convey MOL’s perspective on the INA-related issues that have generated considerable media attention to date, MOL has launched a dedicated Web page www.molincroatia.com.

Dominic Köfner, MOL Group Vice President for Corporate Communications, said: “MOL has a responsibility to its stakeholders for full transparency and we believe launching this website is a helpful step to detail the delicate and complex situation regarding INA and to explain what this conflict is really about. In line with our transparency approach the Gas Master Agreement is available as well. This “MOL’s Investments in INA” website as it is today is just a very first step and we are planning on compiling more relevant information on this page in the near future.”

In October 2008, MOL became the largest shareholder in INA and subsequently obtained effective management control rights of the company. This was finally made possible by the 2002 INA Privatization Act, a law requested by the IMF and enacted under then Prime Minister Ivica Račan. Since 2009, MOL has been operating in an increasingly challenging environment in Croatia. On the one hand, this was caused by the economic downturn in the whole region, on the other hand however this was the result of an unfriendly investment climate and the unpredictable regulatory system in Croatia.

“MOL values its position as one of Croatia’s largest investors and this website allows us to better communicate the long history and large scale of our involvement in Croatia, and the current challenges we are facing” added Marcus Lippold, Vice President, Business Strategy and Regulatory & Public Affairs, MOL Group. “We hope it will further demonstrate that we have been and will continue to be a committed and constructive partner for the Government of Croatia. We remain hopeful that an amicable resolution can be reached allowing for a profitable, efficient and sustainable INA to thrive for the benefit of all shareholders and Croatia at large.”

The “MOL’s Investments in INA” site is in English and will be regularly updated to keep all stakeholders informed of all material developments regarding MOL and INA.

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 around 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.

MOL Group’s LEAD Program Wins Leadership 500 Award

  • Selected out of 200 international companies, MOL Group’s LEAD program has been chosen among the five finalists for the Leadership 500 Award
  • LEAD program is a complex leadership capability building platform that focuses on the development of top talents at MOL Group
  • Leadership 500 Award of HR.com recognizes top leadership practitioners and highlights companies’ role in the industry

Budapest, April 11, 2014 – MOL Group’s LEAD program has been selected among the top 5 companies in the category of international companies of HR.com’s Leadership 500 Award. The prestigious award acknowledges MOL Group’s efforts in attracting and developing top talents globally. HR.com organization is the leading global community with 200,000 members showcasing best HR practices, latest trends and industry news.

LEAD program was established in 2013, and it has been MOL Group’s key vehicle to manage organizational changes. By the development of LEAD program, MOL Group aims to build the next generations of global leaders who can navigate through ever changing circumstances and can deliver excellent business results. The company’s commitment to talent development starts as early as secondary school level and it continues with its best-in-class industry student competition and graduate program for the best talents at the university. LEAD program completes the chain of award-winning programs.

„It’s an honor to win the Leadership 500 Award, and a great recognition for MOL Group being selected out of 200 nominees. We are proud that right after the company was announced as the winner of the 2014 ERE Recruiting Excellence Award in the category of Best College Recruiting Program for Freshhh and Growww, our LEAD program has won another prestigious award. Our recruitment and development programs represent a major investment into the future of MOL Group, so we are continually working on improving them” - says Zdravka Demeter Bubalo, Human Resources Vice President of MOL Group.

In order to maximize organizational impact as well as build leadership capabilities of top talents, LEAD has been developed around three talent groups in cooperation with top-ranking international business schools. COTRUGLI Business School has developed the trainings for Emerging talents, and Growing and Advanced programs have been implemented by Thunderbird School of Global Management. The leadership development program participants come from diverse cultural and professional backgrounds, representing 11 countries from Austria to Iraq. Since the program has been started, more than 300 LEAD nominees went through a strict selection process conducted by external professionals specialized in talent assessment. As a result, 65 participants have been developed into the next team of great leaders to shape the future with MOL Group.

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 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.

MOL Successfully Completes Acquisition of North Sea Assets

  • MOL closed its previously announced deal with Wintershall and acquired offshore assets with 14 licenses in the North Sea
  • The portfolio consists of equity stakes in offshore licences as well as equity share in infrastructure
  • MOL Group has recently opened a local office in Aberdeen to support its expansion in the region

BUDAPEST, Hungary – 25 March 2014 – MOL successfully closed its previously announced deal with Wintershall and acquired offshore assets with 14 licenses in the North Sea. MOL Group has also recently opened an office in Aberdeen tosupport its operations and its future expansion in the region.

According to the Share Purchase Agreements with Wintershall which was signed on 12 December 2013 MOL has acquired offshore assets with 14 licenses on the United Kingdom Continental Shelf. The portfolio includes non-operated equity stakes in the Broom (29% Working Interest), Catcher (20% WI), Cladhan (33.5% WI), Scolty and Crathes fields (50% WI). In addition, Wintershall’s equity share in the infrastructure assets of the Sullom Voe Terminal and Brent Pipeline System were also part of the deal.

MOL Group has recently also established a new office in Aberdeen to support its operations and its future expansion in the region. “The North Sea is a very attractive area, and MOL will continue to develop its presence in the region. We intend to take part in upcoming licensing bid rounds and aim to become operators ourselves.” – said Alexander Dodds, MOL Group Executive Vice President for E&P.

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 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 contact

Judit Németh
MOL Group International Communications Expert
m: +36 20 254 5169 | @: Diese E-Mail-Adresse ist vor Spambots geschützt! Zur Anzeige muss JavaScript eingeschaltet sein!

Tamás Berzi
MOL Group International Communications Expert
m: +36 20 409 7632 | @: Diese E-Mail-Adresse ist vor Spambots geschützt! Zur Anzeige muss JavaScript eingeschaltet sein!

MOL Group Received Central European Sustainability Reporting Award

  • MOL Group received for the second time the “Central European Sustainability Reporting Award” announced by Deloitte
  • MOL Group competed with 33 companies from 6 Central European countries
  • The award aims to honour companies publishing their sustainability report in line with international best practices

Budapest, 13th March 2014 – Today, MOL Group received the Central European Sustainability Report Award for the second time, also known as “Green Frog Award” handed over by Deloitte. According to the complex evaluation of an independent expert jury MOL has prepared the best quality sustainability report in 2013 from among 33 companies in Central Europe. In line with international best practices MOL is committed to publishing its sustainability report together with its financial report every year since 2008.

Following MOL’s commitment to transparency and accountability the Group aims at informing its stakeholders about its performance in environmental and social areas. The sustainability disclosure is an integrated part of MOL Group’s Annual Report since 2008.

“Incorporating the principles of corporate sustainability into our daily business practices is essential of the company’s success in the long-term. Our commitment is reflected in our Annual Report, where we publish our sustainability performance within the framework of the financial results. We are pleased that this award also acknowledges our efforts.” – said MOL Group CEO József Molnár.

MOL Group’s main objective is to achieve and maintain an internationally acknowledged leading position in the industry based on its sustainability performance. To achieve this goal, MOL has identified six sustainable development focus areas for the period 2011-2015: climate change, environment, health and safety, communities, human capital and economic sustainability. All of the focus areas are considered to be essential to the successful management of the long-term economic, social and environmental challenges MOL Group faces now or in the future.

To learn more about MOL Group’s Sustainability Report, please visit the following website: http://www.mol.hu/annualreport2012/

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.

Press contact

Judit Németh
MOL Group International Communications Expert
m: +36 20 254 5169 | @: Diese E-Mail-Adresse ist vor Spambots geschützt! Zur Anzeige muss JavaScript eingeschaltet sein!

Tamás Berzi
MOL Group International Communications Expert
m: +36 20 409 7632| @: Diese E-Mail-Adresse ist vor Spambots geschützt! Zur Anzeige muss JavaScript eingeschaltet sein!

Teachers and Trainers in the Limelight MOL Talent Support Prizes Awarded

Budapest, March 12th 2014. – Eight teachers performing exemplary work were awarded the MOL Talent Support Prize in the Glass Room of the Palace of Arts today by Szabolcs I. Ferenc Senior Vice President of MOL Corporate Affairs, the Curator of the Foundation, Eszter Ónódi, actress, the goodwill ambassador of New Europe Foundation and others.

New Europe Foundation has been supporting young talents, teachers and child health care since 2006 with a yearly fund of HUF 100 million. In the last seven years the excellent work of more than 50 outstanding teachers was rewarded by the Foundation. This year the Curatorial selected from among more than 700 nominees the four teachers and four trainers who were awarded the MOL Talent Support Prize, which is both a moral and material appreciation worth HUF 500,000. Through their devoted work and professional excellence these teachers and trainers greatly contributed to the development of many young talents.

„For a child the background support of the parents is inevitable. However, it is also vital to have devoted pedagogues who can inspire their students with their expertise and their whole personality, who can effectively participate in the formation of the young talents’ lives and in launching their career. We also know that in order to achieve outstanding success both the teacher and the student need stamina and diligence. MOL Talent Support Prize would like to focus the attention to this prominent work” – said Szabolcs I. Ferenc Senior Vice President of MOL Corporate Affairs, Curator of the Foundation.

The MOL Talent Support Prize was awarded in 2013 to distinguished teachers like Erzsébet Fazekas, solfege, singing and music teacher (Miskolc), Dr. Éva Kirsch, physics (Debrecen), Mrs Szász, Judit Réger, violin (Budapest) and Mrs Tölgyes, Katalin Kovács, biology and chemistry (Zalaegerszeg).

The awarded sport professionals were Attila Gyöngy wrestling trainer (Eger), Miklós Keszthelyi ice-hockey trainer (Budapest), Gábor Nagy basketball trainer (Paks) and László Suba athletics trainer (Debrecen).

Among those distributing the prizes were three-time Olympic champion kayaker Katalin Kovács, individual supportee of MOL, and Eszter Ónodi, actress, the goodwill ambassador of New Europe Foundation

According to our tradition the young talents of the MOL Talent Support Programme participated and performed in the award ceremony: Mihály Boros (aged 11) and Róza Radnóti (aged 16) played the piano. Their teachers, Mrs. Megyimórecz, Ildikó Schmidt and Mrs. Hornyászky, Erika Brecht had also been awarded the MOL Talent Support Prize earlier.

During the event of the award ceremony the Foundation also announced the application programmes for this year. MOL Talent Support Programme Sport Category calls for applications of young talents aged between 10-18 who have already achieved good results in national or international competitions and who need material support for their further development. The deadline is March 31st 2014. For further information about the tendering process please visit our website www.ujeuropaalapitvany.hu.

Short appraisal of the 2013 award winners of MOL Talent Support Prize:

TEACHERS

Erzsébet Fazekas (1958) – solfege, singing and music teacher (Miskolc)

Erzsébet Fazekas teaches solfege, singing and music in Miskolc, in the Egressy Béni–Erkel Ferenc Primary Art School. She detects in her students the susceptibility to music, becomes one with their talents and finds the ways to their development. She holds that it is important to preserve the traditions and that her students know and like the Hungarian folk songs. She believes that passing down our folk songs to the children in an expressive way will be a lifelong experience for them. With the guidance of Ms Farkas the children have achieved substantial results in both folk and pop music. One of her outstanding students, Tamás Veréb, winner of several national and international prizes, today guest artist of the Budapest Operetta Theatre, had also been supported in his career for several years by MOL Talent Support Programme

Dr. Éva Kirsch (1961) – teacher of physics, Debrecen

Dr. Éva Kirsch has been a significant teacher of physics in the Kossuth Lajos Secondary Grammar School of Debrecen since 1985, where she has been the Deputy Headmaster since 2011. She has designed the programmes for several scientific projects and national competitions, and is the leader of further training courses and working groups. Teaching is her job, passion and vocation at the same time. She is unsparing in her efforts to find the gifted students and to help them unfold their talents. She laid the professional foundations for many excellent professionals. Her students participate in regional and national physics competitions with good results. She works towards increasing the prestige of the science subjects: she holds presentation lessons, participates in professional and pedagogical conferences.

Mrs.Szász, Judit Réger (1943) – violine teacher, Budapest

Mrs. Szász, Judit Réger has performed the vocation of a pedagogue for 50 years, for the last 45 years in the Music School of Józsefváros, Budapest. For 19 years she used to be the leading practice teacher of the Teacher Training Institute of the Academy of Music. An important element .of her pedagogical work is the preparation for a musical career. At the same time she also teaches children of average talent, performs highly demanding work with disadvantaged pupils, and has extraordinary results with them. Her talent support activities are remarkable, several of her students won prizes in national and international competitions. In the 2013 Koncz János Piano Competition five of her students were finalists. She is co-author of the „Violin ABC”, the most important teaching/learning material for playing the violin. Nearly 100 of her students chose a musical career and became her colleagues, or artists giving concerts. In 1992 she founded the Weiner-Szász Chamber Orchestra, which has become famous in the concert scene in Hungary and abroad.

Mrs.Tölgyes, Katalin Kovács (1957) – teacher of biology and chemistry, Zalaegerszeg

Mrs.Tölgyes, Katalin Kovács, teacher of biology and chemistry of Zrínyi Miklós Secondary Grammar School in Zalaegerszeg has been in the teaching career for 33 years. She easily arises her students’ interest for the science subjects, and talent support has always been an important task for her. She participated in the organisation of many city and county wide competitions and wrote tasks for the national ones. Her students were invited to the International Chemistry Olympiad, others were among the 10 best in the Hungarian Olympiad. She systematically helps with the individual research of her students, prepares them for student conferences. She actively participates in the school’s foundation activities to provide financial support for the travelling expenses of the students and to buy the necessary materials and equipment for teaching.

TRAINERS

Attila Gyöngy (1968) – wrestling trainer, Eger

Attila Gyöngy is the leading trainer of the Vasas Wrestling Association of Eger, which produced several medalists in world competitions, as well as Olympic champions (András Sike Olympic Champion, Lajos Virág World Champion, Silver Medal). He is training several competitors these days as well, he is the number one pillar of the association. He devotes a lot of personal attention to his young students, one of them is Zsolt Török, Junior World Championship silver and gold medalist, who has been supported for several years by MOL Talent Support Programme.

Miklós Keszthelyi (1973) – ice-hockey trainer, Budapest

Miklós Keszthelyi is the professional trainer of UTE ice-hockey team. He started to work as a professional trainer already in 1993, when he was an active player. In 1996 he got his PE teacher degree and in 2008 his professional ice-hockey trainer certificate. During his 20 years of training career he has been working with children of all ages – from teaching ice skating in kindergarden and in elementary school to training U16 juniors. He has been one of the leading trainers of the U14 talent support programme of the Hungarian Ice-Hockey Association from the start. Twice he has won the best junior trainer prize of the Association, and he has brought up dozens of juniors and several adult players for the sport (János Háry, Bence Szilágyi, Csaba Kovács, Gergely Borbás, Attila Németh, Richárd Nagy).

Gábor Nagy (1963) – PE teacher and basketball trainer, Paks

He is the PE teacher of the Energetics Vocational Secondary School and College of Paks and the Junior trainer of the Men’s basketball section of the Power Station Sports Association (Atomerőmű Sportegyesület). He started working as a trainer in the Academy of Physical Education, then worked in the Central Sports School (KSI) and in Tungsram, training juniors and cadets. Between 1989 -1991 he was the second trainer of the junior national team. In 1991 he was awarded the “Junior Trainer of the Year” prize. Up to 1992 his team twice won the National Championship and the Cup. He spotted and invited to the national team Kornél Dávid, who later became to most well-known Hungarian basketball player and NBA member. In 1994 he devised the so called “Ball magic” basketball sport programme for players aged 8-12, which he further developed into a free-time exercise and development of motion programme between 1997-2000. In the past 32 years he got many children to like sport and basketball, his work and results are outstanding both in mass sports and competitive sports.

László Suba (1960) – PE teacher and athletics trainer, Debrecen

László Suba started his trainer career in 1982. Since 1988 he has been the leading athletics trainer of the Debrecen Sports Centre. In the last 30 years several hundreds of his students won in Junior National Championships, participated in junior European and world competitions: in 1997 European Athletics Junior Championship Enikő Szabó was member of the women’s 4x100 metres relay winning the silver medal, now she is still the national first in women’s 100 m running. In 2013 his junior students won a total of 16 national champion titles, several of them qualified for European and world championships as well.

See some short films about the award winners by visiting the following links:
http://www.ujeuropaalapitvany.hu/tamogatott/dijazottak-2013

Ágnes Illyés
Eurolex Consulting
+36 20 392 6785
Diese E-Mail-Adresse ist vor Spambots geschützt! Zur Anzeige muss JavaScript eingeschaltet sein!

Andrea Haáz
MOL New Europe Foundation
+36-70 373 4384
Diese E-Mail-Adresse ist vor Spambots geschützt! Zur Anzeige muss JavaScript eingeschaltet sein!

MOL Group Launches its Growww 2014 Program

  • Growww, MOL Group’s award-winning global graduate recruitment and development program, calls for applications
  • MOL Group hires more than 250 top talents annually via its Growww program
  • Growww positions are available at 25 MOL Group companies in 11 countries

Budapest, 11 March 2014 – MOL Group launches its global award-winning graduate recruitment and development program again this year. The company hires more than 250 top talents via Growww at 25 MOL Group companies in 11 countries.

This is the eighth consecutive year that MOL Group offers graduates a unique opportunity through Growww, a global graduate recruitment and development program, to start their career at an international company, gain work experience under professional guidance and prove themselves in a cross-cultural working environment. The company offers more than 250 Growww group-level positions from engineering, business, IT and natural sciences to social sciences. This year, positions for Growwwers are open at 25 MOL Group member companies in 11 countries including Croatia, the Czech Republic, Hungary, Iraq, Pakistan, Poland, Romania, Russia, Serbia, Slovakia and Slovenia.

“Careers in engineering and natural sciences are less popular with youngsters these days, and we believe that it is of utmost importance to support top talents in these fields, and give them the opportunity to evolve and develop in an environment that serves them best. We have employed 1,350 Growwwers since we started the program in 2007 and a number of our managers in all countries are coming from the Growww population. 20% of former program participants have been promoted vertically through the organization, which means that we chose the best applicants” – said Zdravka Demeter Bubalo, HR Vice President of MOL Group.

“First of all I learned the operation of the organisation and the rules, then I took part in tender processes with my colleagues’ help. By now I am capable of managing the process by myself. I’ve learned not to be afraid of the challenges.” said previous Growwwer, Blanka Kovács

For continuous updates about the program, please visit the Growww Facebook page at www.facebook.com/growww

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 7 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 filling stations across 11 countries in Central & South Eastern Europe.

MOL Group Launches Freshhh 2014 Competition for University and College Students

  • Registration for MOL Group’s Freshhh 2014 competition opens today and concludes on April 7, 2014 at www.freshhh.net
  • Freshhh is an international online oil & gas industry student competition
  • Three-member teams compete for altogether 20,000 Euro prize

Budapest, 5th March 2013 – MOL Group launches its one of a kind international competition again this year. Student groups from universities and colleges are competing not only for fun, but also for 20,000 Euros and a possible career. The competition starts today, and registrations are accepted by April 7 via www.freshhh.net.

Since 2007, MOL Group has organized one of the biggest international competitions in the oil and gas industry called Freshhh. The program aims at attracting and developing new talents within the operation of the company and making young people one of the strongest pillars of the Group. In the last seven years, 10,000 students with 3,500 teams from 250 universities in 70 countries competed within the frames of the program. Many of them are now successful employees of MOL Group all over the world.

The competition consists of three rounds where entrants have to compete in a virtual scenario through the internet by solving industrial and strategic tasks developed by MOL Group. The best 40 teams from the first round have a chance to qualify for the Strategy Simulation round where they face gas station simulation and have to make proper decisions based on careful market analysis. The third round is the live final in Budapest, where the top 5 teams compete for the main prize. The best three teams win 20,000 Euros (9,000 Euros for the winning team, 7,000 Euros for the second and 4,000 Euros for the third one) and the opportunity to join the graduate recruitment and development program of MOL Group. The performance of the teams is judged by a jury consisting of senior MOL Group managers. This year, Freshhh mostly focuses on refinery, logistics and strategy.

“Last year we had a record number of applicants, with over 2,600 students forming 887 teams from over 60 countries participating in the competition. Our aim is to beat our record this year. MOL Group’s future success lies in the hands of young people who can bring creativity, fresh ideas and new perspectives to the Group, so continuously investing resources in developing top talents is the best decision we can make,” said Zdravka Demeter Bubalo, Human Resources Vice President of MOL Group.

About the competition

Who can apply?

The Freshhh competition is designed for university and college students. All team members must be currently enrolled in university or college education. PhD students are allowed to participate in the competition as well. The tasks will focus on the oil and gas industry; therefore it is advised to have practicality oriented members in the team.

How to apply?

Teams of three are able to register at www.freshhh.net. The registration period closes at 12:00 PM GMT on 7 April 2014.

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 7 countries and exploration assets in 11 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 filling stations across 11 countries in Central & South Eastern Europe.

MOL Group Announces 2013 Full Year Results

  • MOL Group delivered a clean CCS EBITDA of HUF 516bn which is 9% behind last year’s performance
  • Reported operating profit was negatively affected by Syrian and Croatian asset write-downs
  • Downstream segment achieved outstanding results despite the deteriorating environment
  • MOL Group’s operating cash flow exceeded last year’s level by 35%
  • Net gearing ratio decreased further to 16%, the lowest since 2008

Budapest, 25th February 2014 – Today, MOL Group announced its financial results for 2013. Despite deteriorating market conditions, CCS-based Group downstream results improved exceptionally. The Upstream portfolio faced significantly lower realised hydrocarbon prices and declining production. At the same time the Group preserved its excellent cash flow generation capability and strengthened its financial position further.

In 2013, MOL delivered a clean CCS EBITDA of HUF 516bn which is 9% behind last year’s performance. Reported operating profit was negatively affected by Syrian and Croatian asset write-downs, the latter due to the loss making INA Downstream operation, and items associated with the conversion of the Mantova refinery.

In line with the guidance given at the beginning of this year, the Downstream segment outperformed last year’s clean CCS-based EBITDA. Amid strong macroeconomic headwinds, including a collapsing product margin environment and a tightening Brent-Ural spread, this outstanding result can be attributed to the efficiency improvement actions achieved as part of the New Downstream Programme as well as higher refined product sales and improving petrochemicals margins.

In Upstream, on the one hand, performance was negatively affected by a drop in average realised hydrocarbon prices (down by 10%), mainly attributable to a decline in natural gas prices in Hungary and Croatia while on the other hand, MOL Group faced shrinking production as well, mostly driven by gas production decreases in the CEE region. In addition, MOL divested its Russian ZMB production field in August. Excluding the contributions of ZMB and Syria, production amounted to 100 mboepd, a drop of 7% compared to 2012.

Gas Midstream delivered similar results to those of last year as the negative effects of the tightening Hungarian gas transmission regulation were compensated for by a lower level of losses in the Croatian gas trading business due to lower sales volumes.

As a result of strong operating cash flow achieved, the Group’s financial position improved further. The year-end gearing ratio of 16% is the lowest since 2008.

MOL Chairman-CEO Zsolt Hernádi commented on the results: “I’m very glad to say that we successfully preserved the excellent cash flow generation capability of MOL Group. Nevertheless our clean results decreased as our Upstream portfolio faced declining production. To mitigate this decline and return to growth as soon as possible we are accelerating our key projects further. These include the fast-track development of the Akri-Bijeel Block, which could already deliver its first oil by the second quarter of 2014. In line with our strategy we also took inorganic steps when we announced our entry into the North Sea region. We acquired interests in oil producer projects which will support our production growth even in short-term. Going forward down this road, we are looking for attractive M & A opportunities to achieve a step change in Upstream. In Downstream, we can be proud that we kept our promise to deliver similarly strong results as a year before even in a worsening external environment. Our intention is to continue our internal efficiency improvement programme in 2014.”

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 7 countries and exploration assets in 11 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 filling stations across 11 countries in Central & South Eastern Europe.

For a video interview with MOL Group CEO József Molnár and CFO József Simola please visit
http://sites.merchantcantos.com/companies/m/mol-group/full-year-2013-results/.

Press Contact

Judit Németh
MOL Group International Communications Expert
m: +36 20 254 5169 | @: Diese E-Mail-Adresse ist vor Spambots geschützt! Zur Anzeige muss JavaScript eingeschaltet sein!

Tamás Berzi
MOL Group International Communications Expert
m: +36 20 409 7632 | @: Diese E-Mail-Adresse ist vor Spambots geschützt! Zur Anzeige muss JavaScript eingeschaltet sein!

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