Pressemitteilungen

Budapest, 20 November 2025 – MOL and Slovnaft have turned to the Directorate-General for Competition of the European Commission (EC), raising concerns that Janaf’s practices further intensify security supply concerns related to the Croatian section of the Adria-pipeline.

In the letter the companies sent to the EC they state that Janaf informed MOL and Slovnaft that they would only receive crude oil already purchased and scheduled for delivery if MOL and Slovnaft agreed to purchase additional volumes and put in JANAF’s system as “pusher oil”.

The request from the operator of the Adria pipeline came as a surprise to MOL, as this had not previously been an issue in its cooperation with Janaf and is not mentioned in the contract. Moreover, it might as well go against the terms of the contracts the companies signed.

Recently, Janaf was unable to deliver the latest ordered quantity on time and has also indicated that similar conditions will apply to future deliveries. These practices have immediate and serious consequences as Janaf is leveraging its infrastructure position to impose unilateral changes to the contract governing access to non-Russian crude oil transport.

This undermines MOL and Slovnaft’s ability to secure the volumes of non-Russian crude required to meet its regulatory compliance obligations and to ensure the continuous and secure operation of its Slovak refinery, which plays a pivotal role in the fuel supply of several EU Member States.

Besides the well-known capacity and pricing issues of the Adria-pipeline, this recent development again casts a shadow of uncertainty and raises the question of how reliably the southern pipeline system operates. This is of great importance in terms of the feasibility of phasing out Russian oil proposed by the European Union.

Slovnaft and MOL encouraged the Commission to closely monitor the situation. However, they believe that they can build the business relationship with Janaf back on the track of professional cooperation, transparency and fair market conditions.

• MOL Group profit before tax reached USD 503 mn in the third quarter of 2025, remaining flat year-on-year.
• Upstream delivered stable results amidst a relatively stable external environment.
• Downstream’s performance marked an increase in the third quarter, mainly due to refining margins widening considerably.
• Consumer Services delivered growth, supported by a strong driving season with better price environment in Romania and Croatia.
• Seasonal factors weighed on the performance of Circular Economy Services, leading to negative results.

Budapest, 7 November 2025 – MOL Group announced its financial results for Q3 2025. The company delivered USD 503 mn profit before tax in the third quarter of 2025, remaining flat year-on-year. Refining strength and fuel retail growth resulted in a good EBITDA performance with Consumer Services remaining on high growth path and Upstream delivering stable results

Chairman-CEO Zsolt Hernádi commented on the results : "We are used to excitement, but even by our standards, we have had an eventful period behind us. Just think of the sanctions affecting the oil market, the fire in Százhalombatta, or the anomalies surrounding shipments on the Adria pipeline. It is a joy amid so much sorrow that even these challenges—which are demanding to manage—cannot divert MOL Group from its chosen path. Thanks to the commitment of our colleagues, our operational efficiency and our flexibility, we are staying on course, as we closed a strong quarter. However in the light of the new challenges ahead of us we had to review our guidance for this year.

In addition to all this, we are continuing to implement our transformation strategy, the most important milestone of which is currently to make our company's legal structure more efficient and to switch to a holding structure that is well established in the international oil industry. Our shareholders will decide on this at our extraordinary general meeting convened for November 27.

Amidst our many tasks, we must also take time to remember, as this year marks the 60th anniversary of the Danube Refinery and our Algyő oil and gas field, and there is also cause for celebration in our Consumer Services business. Ten years ago, we launched our Fresh Corner network, which has grown into the largest café chain in the region, with nearly 1,400 stores and more than 180 thousand cups of coffee sold every day on average. All this clearly shows that MOL is capable of growing and developing under any circumstances.”

Upstream delivered stable results amidst a relatively stable external environment. Production decreased to an average 92.3 mboepd in Q3 2025, near the bottom end of the annual guidance band of 92-94 mboepd, mainly due to temporary outages in Hungary. The short-term outlook points towards improvement as production increased to 98.4 mboepd in October. Meanwhile, crude exports from the Kurdistan Region of Iraq restarted to Turkey, and the ‘KM250’ gas expansion project was completed at the Khor Mor facility also in the Kurdistan Region of Iraq.

Downstream performance improved in Q3 2025 due to a favourable refining environment, mainly because refining margins widened by close to 6 dollars per barrel. Processed volumes were seasonally low due to regular annual maintenance scheduled for Q3, while sales volumes remained flat year-on-year. As the petrochemicals environment showed no improvement, the performance of petrochemicals still remained below breakeven. After the October fire incident in the Danube Refinery, units not affected in the fire have been successfully restarted and the damage assessment is still ongoing.

The Consumer Services segment delivered a positive performance in Q3 2025, remaining on a high growth path. Results were supported by a solid driving season and strong fuel sales, with fuel margins strengthening due to the better pricing environment in Croatia and Romania. The dynamics of non-fuel expansion is holding up well. Amid wage and inflationary pressure, OPEX growth weighed on the results, while a positive one-off effect year-on-year originated from the merger in fleet services.

Circular Economy Services reported negative performance impacted by strong seasonality in the third quarter of the year, due to extensive DRS redemption activity with lower revenues; and secondary raw material sales also decreased. The impact of positive regulatory changes in the EPR system along with efficiency improvement measures, is expected to gain traction in the coming quarters.

Gas Midstream results deteriorated compared to last year as a result of shifting macroeconomic factors and regulated tariff levels, despite the strong regional transmission demand.

MOL Group calls for tangible actions to restore Europe’s industrial competitiveness, warning that high energy costs, regulatory complexity, and burden along with the increasingly fragmented markets are putting the continent’s long-term prosperity at risk. The company is advocating for a European Minimum of Competitiveness as guidance for coherent, actionable EU-level industrial policies.

György Bacsa, Group Chief Strategic officer at MOL Group, said Europe must move beyond debate and deliver tangible measures to safeguard its industrial base. “Europe’s industrial battery still works, but we need the right voltage to recharge it,” he said at MOL Group’s Annual Brussels Reception. “That means smarter policies, faster decisions and coordinated support to give European producers a fair chance to compete globally.”

MOL Group is advocating for what it calls a European Minimum for Competitiveness —a shared framework that would anchor Europe’s industrial policy in a clear set of principles. The proposal calls for an economic approach that puts growth and industry at its core. It argues that Europe needs rules that are practical and predictable, energy and raw materials that are secure and affordable, and a business environment where companies can invest and compete on fair terms. It also highlights the need to reduce bureaucracy and taxes, support and protect European producers, and align industrial and climate objectives with the global realities.

The European Minimum for Competitiveness sets out nine key considerations that, together, could form the foundation of Europe’s long-term industrial strategy:

1. The basic target of any economic policy shall be economic growth driven by the solid financial performance of the corporate sector.

2. A detailed feasibility analysis (economic, social, technological) is needed before the implementation of any top-down regulatory measure.

3. The daily security of supply of energy, commodities and key materials must be treated as a top priority.

4. Energy costs, bureaucracy, and taxes must be reduced.

5. Complex ecosystems and value chains should be the focus of the regulator instead of supporting only particular areas. We must support investment in key technologies and innovations.

6. We need our own strong and independent refining and chemical infrastructure.

7. We need to protect European producers, and subsidies should be directed to the "Made in Europe" program.

8. We need more allies: international climate policy measures must be integrated into EU policy to a much greater extent, and we must face global reality.

9. We need realistic and flexible targets based on business cases and regional specificities.

György Bacsa underlined that Europe’s prosperity and independence depend on a strong industrial foundation and a closer partnership between policymakers and businesses. “A strong Europe needs strong industry,” he said. “This is not just an economic issue; it is about safeguarding Europe’s ability to shape its own future.”

As one of Central and Eastern Europe’s leading industrial and energy companies, MOL Group remains committed to contributing to Europe’s long-term competitiveness and sustainability. Through ongoing investment and cooperation, the company works to strengthen Europe’s industrial and energy base and to help ensure that the region remains competitive and secure in a changing world.

Budapest, Galgahévíz, 10 September 2025 – MOL and O&GD have discovered a new oil field at a depth of approximately 2,400 meters near Galgahévíz, Hungary. The well, named Galgahévíz-4, is capable of producing approximately 1,000 barrels of crude oil per day, which is processed at the Danube Refinery in Százhalombatta. The new discovery coincides with the 60th anniversary of the Algyő field, where oil and natural gas production began in 1965 and continues to play a significant role in Hungary's energy supply.

Budapest, 15 September 2025 – MOL Group has achieved a significant milestone in its SHAPE TOMORROW Strategy by successfully completing its first ISCC PLUS-certified production run using circular feedstock at its MOL Petrochemicals site in Tiszaújváros, Hungary.

MOL is conducting geothermal energy exploration and has carried out 3D seismic surveys in and around the Danube Refinery to assess the potential for geothermal energy utilization. The aim is to determine whether there is high-temperature groundwater in the area that could be harnessed to make the refinery’s operations more sustainable.

The purpose of surveys is to examine whether the surroundings of the Danube Refinery possess geothermal characteristics that could contribute to improving the refinery’s energy efficiency. If sufficient quantities of thermal water with the right temperature can be identified at the appropriate location and depth, it could significantly support the refinery’s energy needs.

The results of the analyses are expected to be available in about six months. If the findings are promising, further feasibility studies will follow.

„The geothermal exploration area granted to MOL includes Százhalombatta and the Danube Refinery. Therefore, in addition to mapping the entire area, it is logical to specifically examine the geothermal potential of the refinery’s surroundings” - said Dávid Kapes, Head of Group E&P Low Carbon & New Energies.

„The green transition starts with reducing emissions from our own operations. After building a solar park and commissioning the green hydrogen plant at the Danube Refinery, we are now experimenting with utilizing the Earth’s heat. I am particularly pleased that we can do this in collaboration with another MOL business unit, Exploration and Production” - added Krisztián Pulay, Group DS Production and Development SVP.

The modern, widely proven 3D seismic technology works similarly to medical ultrasound: artificially generated vibration waves reflect off various subsurface layers, enabling the creation of a three-dimensional image of underground geological structures—allowing experts to “see” beneath the surface.

Applying geothermal energy in a refinery setting would be pioneering in the region, and even globally, there are only a few such projects in operation.

Budapest, 8 August 2025: On the occasion of World Biodiesel Day, MOL Group highlights a recent milestone in its energy transition journey. Sustainable aviation fuel (SAF) has been successfully produced for the first time at INA’s Rijeka Refinery during a pilot project to process biocomponent, as well as a significant volume of renewable diesel HVO (Hydrotreated Vegetable Oil). This marks the second successful SAF and HVO production test within MOL Group, following an earlier pilot at Slovnaft’s Bratislava refinery. These underscore the company’s technological readiness and strategic commitment to alternative fuel development in meeting EU climate targets and enhancing regional energy security.

The successful pilot project at the Rijeka Refinery was implemented in cooperation with Chevron Lummus Global (CLG), the licensor of the refinery’s Hydrocracking Unit, with the aim of testing the co-processing of 5% POME (Palm Oil Mill Effluent – a by-product of palm oil production) with fossil feedstocks. During the pilot, 1,000 tonnes of biogenic feedstock were processed. The entire process was certified by the independent auditor Bureau Veritas d.o.o., in line with the ISCC (International Sustainability and Carbon Certification) standard for sustainable biofuels.

The preparation of the pilot project took eight months due to the complexity of processing a new type of feedstock and its specific physical and chemical properties. During the test run, more than 400 samples were collected for detailed analysis conducted at INA’s Central Testing Laboratory (CIL), while the biogenic content (C14 analysis) was carried out by accredited external laboratories – the Ruđer Bošković Institute in Zagreb and Isotoptech Zrt. in Debrecen.

Earlier this year, MOL Group’s Bratislava Refinery also conducted successful production tests of a diesel fuel containing HVO and SAF. HVO was produced using oil from cashew nut shells and the biocomponent produced this way was processed together with crude oil. In case of SAF, partially refined cooking oil was processed with the traditional raw material. The test proved that the Bratislava Refinery’s production unit used for the production of standard aviation kerosene is also suitable for producing sustainable aviation fuel.

MOL Group had been using the co-processing method at the Danube Refinery in Százhalombatta for years: the process reduces the emissions of traditional fuels by mixing plant residues, as the bio and fossil components are processed simultaneously directly during production.

Renewable fuels play a key role in MOL Group’s SHAPE TOMORROW strategy. The company is already a key player in both the Hungarian and regional biofuel markets – with hydrotreated vegetable oil produced from waste, i.e., renewable feedstock, being among the most climate-friendly fuel options – and ranks among the pioneers in Europe when it comes to the production of aviation biofuels.

"MOL Group already produces diesel and sustainable aviation fuel from renewable feedstocks and is ready to expand the production. This readiness underscores our strategic commitment to sustainable mobility—whether in road or air transport. For us, becoming a complex mobility service provider means offering an increasingly diverse range of fuels, thus creating all the necessary conditions for a smart energy transition for our customers. We are already playing a leading role in this process in the region, and we are determined to maintain this position through continued investments and innovation." – said Csaba Zsótér, Senior Vice President, Fuels at MOL Group.

MOL Group is continuously researching and developing new possibilities for the production and use of biofuels. In partnership with Budapest Airport, Wizz Air, and Airport Fuel Supply Llc., MOL Group launched commercial testing of SAF in 2022 in Hungary. Building on this, the company now sells SAF as part of its regular operations in Hungary, Slovakia, and Croatia, in quantities equivalent to approximately 14 kilotons of biocomponents.

SAF can only be produced from classic renewable feedstocks (such as materials of vegetable origin) or waste, but it should meet the same technical and environmental specifications as conventional kerosene. Currently, very few refineries worldwide are equipped to produce sustainable aviation fuel. The current and projected global supply of SAF falls significantly short of demand, as reflected in prices. This is why MOL Group’s developments are of strategic importance, both from a climate protection and supply security perspective.

Budapest, 4 August 2025 - MOL Group continues to diversify oil supply in the region: the company has imported 85,000 tons of CPC blend crude oil and signed an oil trading agreement with Kazakhstan's national oil company, KazMunayGas (KMG). The relationship between MOL and KMG dates back to 2004 and continues to strengthen: at the end of 2024, the companies signed a cooperation agreement to leverage opportunities in Kazakhstan. The current oil trading agreement further strengthens the security of supply for the Central and Eastern European region.

A shipment of CPC (Caspian Pipeline Consortium) crude oil has arrived from the port of Novorossiysk to Omišalj, Croatia. The 85,000 tons of CPC blend, primarily consisting of Kazakh crude oil, further increases the volume of seaborne crude oil coming into the region. Kazakh crude oil plays an essential role in MOL Group's oil diversification programme, being one of the 14 oil types already tested at the Bratislava refinery and regularly imported into the region.

"MOL Group has been working for over a decade to enhance the Adria pipeline and its associated infrastructure, improve the flexibility of refinery technology, and establish new, commercially reliable supply routes. Identifying reliable suppliers and high-quality alternative crude oil types is an integral part of this process. We are delighted to strengthen our cooperation year by year with our Kazakh partners, building upon more than two decades of successful collaboration. Our latest oil trading agreement represents an important milestone for the entire Central and Eastern European region and clearly demonstrates our belief in reliable, fair partnerships and continuous problem-solving,"said Gabriel Szabó, Executive Vice President of Downstream at MOL Group.

MOL and KMG elevated their relationship to a new level at the end of 2024 by becoming strategic partners, exploring opportunities in hydrocarbon exploration and production, technology transfer, crude oil supply, and petrochemicals. Last year's agreement focused on expanding existing exploration and production cooperation (MOL, KMG, and China's Sinopec jointly produce gas and gas condensate at the Rozhkovskoye field) and applying MOL's technology in Kazakhstan. The current oil trading agreement further enhances supply security for Central and Eastern Europe.

Recently, MOL Group also signed a commercial agreement with MVM, importing 160,000 tons of Azerbaijani crude oil annually, accounting for 1.5% of MOL's crude oil processing. Similar to Kazakh crude oil, MOL Group has been working with Azerbaijani crude oil for several years: the company acquired a stake in the Azeri-Chirag-Gunashli (ACG) oilfield in 2020, from which it delivered 5 million barrels of crude oil to the region last year.