- MOL Group
MOL Group Type Public Limited Company Industry Oil and gas Founded 1991 Headquarters Budapest, Hungary Key people Zsolt Hernádi, CCEO
József Molnár, GCEO
Products Oil, natural gas, petrochemicals Website 
MOL Group (MOL Nyrt.) (Magyar OLaj) is an integrated oil and gas group in Hungary. In addition to Hungary, the company is present in the Europe, the Middle East and Africa region, as also in the CIS countries, with interests in exploration, production, refining, marketing and petrochemicals. MOL employs over 34,000 people internationally and it is a market leader in Hungary and Slovakia. It is the second largest company in Central and Eastern Europe.
MOL Nyrt. is a public limited company listed at the Budapest Stock Exchange, Luxembourg Stock Exchange and Warsaw Stock Exchange, and its GDR's are traded on London's International Order Book and on OTC Bulletin Board in the United States. As of 30 June 2008, MOL Nyrt. has market capitalization of US$14.5 billion.
MOL Nyrt. was established on 1 October 1991 through the merger of 9 companies—former members of the National Oil and Gas Trust. By 1995, the actual integration of companies was completed, and the previously separated entities started to operate within one joint organization. MOL went for a privatization strategy in order to respond to international market challenges and also, it pioneered in the regional consolidation of the oil and gas industry.
In 2003, MOL purchased a 25% stake in Croatia's national oil company INA. In 2006, INA and MOL launched a joint exploration project in the Slatina – Zaláta area designed to secure new volumes of natural gas. The two companies are now forming a consortium in Bosnia and Herzegovina, after winning the recapitalisation tender for Energopetrol, the leading petrol company of country, where they got an absolute majority by holding 67% of the shares.
By 2004, MOL bought, in several steps, Slovakia's national refiner Slovnaft, and Hungary's leading producer of ethylene and polypropylene TVK, over which MOL gained control with a stake of 34.5% in 2001. MOL further increased its stake in TVK to 86.56% in 2006. Between 2003 and 2005 MOL completed the acquisition of Shell Romania. In 2004, MOL entered the Austrian market by purchasing a fuel storage facility in Korneuburg, and a year later by acquiring the Roth filling station chain. In August 2007, MOL purchased Italiana Energia e Servizi S.p.A. (IES), owner of the Mantova refinery and a chain of 165 retail stations in Italy. 
In November 2007, MOL reported a new regional initiative to create a joint regional gas pipeline system called New European Transmission System (NETS). On 20 December 2007, MOL announced a strategic cooperation with Czech power utility CEZ. The joint venture with CEZ focuses on gas-fired power generation and related gas infrastructure in Central and Southeastern Europe, first launching two 800 MW power plants in Hungary and Slovakia. After selling 7% of its shares to CEZ within the scopes of a strategic partnership, MOL announced on 10 March 2008 the sale of an 8% stake to the Oman Oil Company for the same reason.
In June 2007, Austrian energy company OMV made an unsolicited bid to take over MOL, which has been rejected by the Hungarian company. On 6 March 2008, the European Commission launched an in-depth investigation of OMV's unsolicited bid to take over MOL. On 24 June 2008, OMV received a 'Statement of Objections' from the European Commission regarding the company's attempted takeover of MOL. In March 2009, OMV sold its 21% stake in MOL to Surgutneftegas. MOL called this move "unfriendly".
On 24 May 2011, the second Orbán-cabinet bought the russian Surgutneftegas's shares, thus the Hungarian state acquired 21.2% of the shares within the company.
The Society of Petroleum Engineers approved 2P (proved plus probable) reserves were 352.3 Mbbl (56,010,000 m3) equivalent and MOL's average hydrocarbon production rate was 86,300 bbl (13,720 m3) equivalent per day in 2008.
MOL operates five refineries in Hungary, Slovakia, Croatia and Italy (23.5 million tonnes per year refining capacity). Its refineries at Százhalombatta, Hungary and Bratislava, Slovakia, are among the most profitable ones in Europe, with Nelson Complexity Indexes of 10,6 and 11,5 respectively. MOL's filling stations amounted to more than 1,000 in ten countries at the end of 2008.
MOL's petrochemical division is one of the largest polymer producer in Central Europe, operated in full integration with MOL's Refining and Marketing division. Its products are sold in more than 40 countries.
For the natural gas division, the main focus is gas transmission via an extensive high pressure gas pipeline, which length exceeds 5,300 kilometres (3,300 mi). MOL is a member of the Nabucco Pipeline project.
In the field of renewable energy MOL develops geothermal power production through the, CEGE Central European Geothermal Energy Production, a partnership with Australian-based Green Rock Energy Limited. The company supports the research of second generation biofuels at the University of Pannonia.
International upstream operations
MOL has foreign exploration licences in (with date of announcement):
- Yemen, Exploration Blocks ’48’ and ’49’, 2002
- Kazakhstan, Federovskoye Block, 2004
- Croatia and Hungary, Slatina and Zaláta, 2006
- Baituganskoe Oilfield, Surgut-7 block and Matjushkinsky block 2006-2007
- Cameroon, Ngosso Permit Block, 2007
- Iraq, Akri Bijeel Block, 2007
MOL has foreign production facilities in (with date of announcement):
- Russia, Zapadno-Malobalyk oil field (with Yukos, later Russneft) 2002
- Pakistan, Tal Block, 2004
Key financial data
Key financial data, IFRS (HUF bn) 2006 2007 2008 Net revenue 2891.1 2594.0 3535.0 EBITDA 542.4 496.0 351.1 Operating profit 409.6 355.5 199.2 Operating cash flow 529.5 315.5 347.2
- ^ (PDF) Top 500 in CEE. COFACE. September 2009. http://www.coface.ua/CofacePortal/ShowBinary/BEA%20Repository/UA/en_EN/pages/home/who_we_are/ne/_docs/Booklet%20Top%20500.pdf. Retrieved 2010-02-15.
- ^ "MOL ownership in INA increased to 47.15%" (Press release). MOL Group. 2008-10-10. http://www.molgroup.hu/en/investors/news_releases/10_october__2008/. Retrieved 2010-02-15.
- ^ Peter S. Green (2003-06-18). "Croatia: Refiner Sold". The New York Times. http://query.nytimes.com/gst/fullpage.html?res=9E05E1DD103CF93BA25754C0A9659C8B63&scp=2&sq=MOL%20oil&st=nyt. Retrieved 2008-02-12.
- ^ "Consortium MOL/INA signed contract with the Government of FBiH for Energopetrol's recapitalization" (Press release). MOL Group. 2006-08-09. http://www.molgroup.hu/en/press_centre/press_releases/2006/consortium_mol_ina_signed_contract_with_the_government_of_fbih_for_energopetrol_s_recapitalization/. Retrieved 2010-02-15.
- ^ "The MOL Story". MOL Group. http://www.molgroup.hu/en/mol_group/our_partner-ina/the_mol_story/. Retrieved 2010-02-15.
- ^ "MOL Plans Capacity Increase at Newly Acquired Italian Refinery". Downstream Today. 2007-08-01. http://www.downstreamtoday.com//News/Articles/200708/MOL_Plans_Capacity_Increase_at_Newly_Acq_5168.aspx. Retrieved 2007-08-03.
- ^ "Hungary's oil firm MOL sells 8 pct. stake to Oman, seen as step to thwart takeover by OMV". International Herald Tribune. 2008-03-10. http://www.iht.com/articles/ap/2008/03/10/business/EU-FIN-COM-Hungary-MOL.php. Retrieved 2008-03-12.
- ^ "OMV gets EU objections statement over MOL takeover bid". Forbes. 2008-06-24. http://www.forbes.com/afxnewslimited/feeds/afx/2008/06/24/afx5146214.html. Retrieved 2008-06-28.
- ^ Guy Chazan; Margit Feher (2009-04-01). "Hungarian Oil Firm Wary of Russian Rival's Stake". Wall Street Journal. http://online.wsj.com/article/SB123861730216679547.html. Retrieved 2009-04-05.
- ^ "India's ONGC would cooperate with MOL in third countries". Budapest Business Journal. 2010-02-08. http://bbjonline.hu/index.php?col=1000&cat=&id=51684. Retrieved 2010-02-15.
- ^ "MOL picks 35% stake in ONGC". The Financial Express. 2008-05-09. http://www.financialexpress.com/news/mol-picks-35-stake-in-ongc/307457/. Retrieved 2010-02-15.
- ^ "Rendkívüli bejelentés visszaszereztük a 21.2%-os Mol-tulajdonrészt/Extraordinary announcement we got back the 21.2% property in Mol". Magyar Nemzet Online. 2011-05-24. http://www.mno.hu/portal/786134. Retrieved 2011-05-24.
- ^ a b c d (PDF) MOL Group Consolidated Annual Report 2008. MOL Group. 2009. http://www.mol.hu/repository/474306.pdf. Retrieved 2010-02-15.
- ^ "RWE joins Nabucco consortium as sixth partner" (PDF) (Press release). Nabucco Gas Pipeline International GmbH. 2008-02-06. http://www.nabucco-pipeline.com/cms/upload/press_release/Press%20Release%20Nabucoo%20e%20-%20RWE%20joins%20Nabucco%20consortium%20as%20sixth%20partner.pdf. Retrieved 2008-02-19.
- ^ "Green Rock Energy Hungary For Geothermal Success". PESA News (The Petroleum Exploration Society of Australia) (86). February/March 2007. ISSN 1039-4419. http://www.pesa.com.au/publications/pesa_news/mar_07/pesanews_8628.html. Retrieved 2010-02-20.
- ^ a b "Future Energy". MOL Group. http://www.mol.hu/en/about_mol/sd/economic_sustainability/business_development/future_challenges/future_energy/. Retrieved 2010-02-20.
Wikimedia Foundation. 2010.
Look at other dictionaries:
MOL Group — MOL (entreprise) Logo de MOL Création 1991 Personnages clés Zsolt Hernádi, PDG … Wikipédia en Français
MOL — Rechtsform Aktiengesellschaft ISIN HU0000068952 Gründung 1991 … Deutsch Wikipedia
Mol — Contents 1 Places 2 Language 3 People 4 Companies and … Wikipedia
Group I catalytic intron — Group I catalytic introns are large self splicing ribozymes. They catalyze their own excision from mRNA, tRNA and rRNA precursors in a wide range of organisms. The core secondary structure consists of nine paired regions (P1 P9). These fold to… … Wikipedia
Group II intron — is a class of intron found in rRNA, tRNA, mRNA of organelles in fungi, plants, protists, and mRNA in bacteria. Self splicing occurs in vitro (for a few of the introns studied to date), but protein machinery is probably required in vivo. In… … Wikipedia
mol|lusk — «MOL uhsk», noun. any one of a large group of animals having no backbone, soft bodies not composed of segments, and usually covered with a hard shell of one or more parts. The shell of mollusks is secreted by a covering mantle and is formed on… … Useful english dictionary
Mol|ly Ma|guires — «MOL ee muh GWYRZ», 1. a secret society organized in Ireland about 1843 for resisting payment of rent during the famine. Its members disguised themselves as women when attacking rent collectors and other officials. 2. a group in the mining… … Useful english dictionary
MOL Magyar Olaj- és Gázipari Nyrt. — Infobox Company name = MOL Hungarian Oil and Gas Public Limited Company company type = Public Limited Company foundation = 1991 location = flagicon|Hungary Budapest, Hungary key people = Zsolt Hernádi, CEO György Mosonyi, GCEO industry = Oil and… … Wikipedia
Grupo MOL — Tipo Public Limited Company Fundación 1991 Sede Budapest … Wikipedia Español
NASA Astronaut Group 3 — Group photograph Astronaut Group 3 was the third group of astronauts selected by NASA. Their selection was announced in October 1963. Fourteen astronauts made up Group 3. Four died in training accidents before they could fly in space. All of the… … Wikipedia