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MOL leaps over low oil prices presenting record quarter earnings

Acquisition of ENI branded gasoline stations in East Europe

Hungarian energy group MOL has raised its full-year target after enjoying its best ever quarterly results, due to the success of the refining and downstream operations.

MOL TankstelleThe net profit for the half of 2015 has jumped to USD 258 million, supported by a strong quarter which saw MOL earn USD 225, USD 117 more than the same quarter in 2014. The company has benefited from stronger refinery margins and a growing fuel demand, combined with an aggressive retail expansion strategy with the recent acquisition of all Eni’s downstream operations in the Czech Republic, Slovakia and Romania.

MOL operates 585 service stations in Hungary, Serbia, Romania und Slovakia, has around 8.000 employees and produce estimated 7,5 million tons of fuel, mainly diesel.