MOL Group is Hungary's most profitable enterprise, with net profits of $770 million in 2019.
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37 Facts About MOL Group
3.
MOL Group is vertically integrated and is active in every area of the oil and gas industry, including exploration and production, refining, distribution and marketing, petrochemicals, power generation, trading and retail.
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4.
MOL Group has a primary listing on the Budapest Stock Exchange and is a constituent of the BUX Index.
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6.
On 1 October 1991, MOL Group was established as a legal successor, merging nine former members of the National Oil and Gas Trust, which had been established in 1957.
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7.
MOL Group decided on a privatization strategy, in order to respond to international market, political and legal challenges, which the company was facing following the turmoil of the end of the Soviet Union.
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8.
MOL Group thus became the first oil company in Central Europe to establish a cross-border partnership and launched a new business branch by procuring 32.
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9.
MOL Group won the tender with a bid of $505 million against OMV's offer of $420 million.
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10.
Between 2003 and 2005, MOL Group had acquired all Shell filling stations in Romania.
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11.
In 2004, MOL Group entered the Austrian market by purchasing a fuel storage facility in Korneuburg, and a year later acquired the Roth filling station chain.
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12.
In November 2007, MOL Group reported a new regional initiative to create a joint regional gas pipeline system called New European Transmission System .
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13.
On 20 December 2007, MOL Group announced a strategic cooperation with Czech power utility CEZ.
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14.
In late 2013, MOL Group entered the North Sea by acquiring Wintershall's portfolio, which included a mix of producing fields and undeveloped projects.
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16.
In 2016, MOL Group announced its new long-term strategy MOL Group 2030 in response to expected fossil fuel peak demand.
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17.
In September 2018, MOL Group reached final investment on the project and signed engineering, procurement and construction contracts with ThyssenKrupp.
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18.
In 2017, MOL Group launched fleet management, e-mobility and car sharing ventures.
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19.
In September 2019, MOL Group Serbia opened a new fuel storage depot in Sremski Karlovci.
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20.
In November 2019, MOL Group signed an agreement with Chevron, acquiring their 9.
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21.
At the start of the pandemic in March 2020, MOL Group shifted production of windshield washer at its Almasfuzito plant to hand and surface sanitizers to offer protection against the coronavirus.
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22.
In 2014 as a strategic goal, MOL Group started investigating the solutions of diversifying its crude oil supply and to adapt its refineries to process non-Russian alternative crude oil, in order to reach greater flexibility.
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23.
Until 2022 MOL Group invested more than USD 170 million on building up the alternative logistic solution on the Adria pipeline.
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24.
MOL Group started to implement the updated strategy right after the publication.
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25.
MOL Group has many subsidiaries across all areas of its business operations.
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26.
MOL Group's chief governing body is the board of directors, which has 10 members, out of which three are executive and seven are non-executive.
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27.
In 2017, MOL Group announced the relocation of their corporate headquarters, which are currently based in various buildings throughout Budapest.
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28.
In June 2019, MOL Group revealed first interior design visualizations, that were created by the Berlin-based interior design company KINZO.
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29.
MOL Group has a current Upstream presence in 13 countries with production activities in 8.
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30.
Besides Central and Eastern Europe, its core regions, MOL Group has a presence and partnerships in the CIS region, the Middle East, Africa and Pakistan as well as the North Sea region .
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33.
MOL Group produces and sells petrochemicals worldwide and is a leading petrochemical company in the Central Eastern Europe region.
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34.
MOL Group intends to increase the feedstock for its petrochemical plants, whilst taking advantage of the growing demand for profitable products as jet fuel, lubricants and base oils.
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35.
At the 2016 Petroleum Economist Awards, MOL Group was named the Downstream Company of the Year and in 2018, it was awarded the Energy Company of the Year – Mid Cap prize.
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36.
MOL Group called this move "unfriendly" and claimed OMV had acted as a front for Russian interests.
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37.
MOL Group defended its decision to block Surgut by arguing that the Russian company had not made its intentions towards the company clear.
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