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2019-09-19 113 Growwwers joined MOL Group this year

  • Real professional experience and international career opportunities await fresh graduates at MOL Group.
  • In addition to the professional challenge, the Mol’s Growww program also provides excellent networking opportunities.
  • Participants of the Growww program represent 18 nationalities and they have started their work in 10 countries.

Budapest, 19 September 2019 – More than hundred young professionals started their international careers in September 2019 at MOL Group’s Growww program for fresh graduates. Throughout the program, mentors help young colleagues to integrate faster into the corporate environment and work more efficiently. Since its launch, the program, with above 80% retention rate, has enabled more than 2,300 talented young people to work for the company worldwide.

In 2019, 113 applicants could start their careers in Upstream (17), Downstream (53), Innovative Businesses and Services (30) and Functional Areas (13), as part of MOL Group's Growww program. Applicants for the various positions could apply with a maximum of one year long work experience to the headquarters in Budapest and to local subsidiaries. This year, besides fresh graduates from Austria, the Czech Republic, Croatia, Hungary, Italy, Norway, Poland, Romania, Slovakia and Slovenia, talents from Colombia, Egypt, Iran will also participate. Growwwers represent 18 nationalities, half of them are women and they have started their work in 10 countries.

During the intensive 12-month long program, newly recruited students will learn about and experience the operation of the oil and gas industry while facing serious business challenges. In addition to gaining professional knowledge, they also have the opportunity to explore their personal development and potential. At the beginning of the program, each participant receives their own mentor who helps them through initial difficulties and later on, they provide feedback and guide them in their professional development.

Next to dealing with professional challenges and building a career, Growww program also provides opportunities for young talents to create their own network with experts and executives of the company and establish a true professional cooperation.

„Over the last decade, the Growww program has gained wide regional recognition and we are proud that it has became a real industry trademark for MOL, with an exceptional retention rate of more than 80%. At the same time, half of the participants are female graduates this year, well above the oil & gas industry average” - said Zdravka Demeter Bubalo, HR Vice President at MOL Group at the Growww Onboarding Day where top executives welcomed Growwwers from 10 countries.

About MOL Group
MOL Group is an integrated, international oil and gas company, headquartered in Budapest, Hungary. It is active in over 30 countries with a dynamic international workforce of 26,000 people and a track record of more than 100 years in the industry. MOL’s exploration and production activities are supported by more than 80 years’ experience in the hydrocarbon field. At the moment, there are production activities in 8 countries and exploration assets in 13 countries. MOL Group operates four refineries and two petrochemicals plants, under integrated supply chain management, in Hungary, Slovakia and Croatia, and owns a network of nearly 2,000 service stations across 10 countries in Central & South Eastern Europe.

Press contact:
MOL Communication Hungary
@: pressoffice@mol.hu

2019-06-26 Interior look of the new headquarters of MOL revealed

  • Unique solutions will yield extraordinary office spaces that give co-working a new meaning.
  • Huge glass surfaces will allow 90% of all workspaces to be bathed in natural light.
  • MOL Campus will feature a skydeck at 120 meters high, which will be open to the public.

Budapest, 26 June 2019. – MOL Group has published the interior designs for its new headquarters, MOL Campus on the project’s website. The building will incorporate numerous unique solutions and will provide a state-of-the-art working environment for 2500 employees.

One and a half years after the initial announcement for the unique company headquarters to be built in Budapest, the project has reached a new milestone. Having laid down the building’s foundation stone, the company has published interior design visualizations on molcampus.hu. The building is designed in line with MOL Group’s 2030 strategy to support innovative, transparent and flexible working patterns.

We want to create a building that is not simply an office block but rather a contemporary creative center, an environment where our employees will be happy to work even some decades into the future – Péter Ratatics, MOL Hungary’s managing director said. It is clear that the needs and work habits of generations Y and X are different from those of earlier generations, and we must adapt to these changes. For a company to remain competitive, it needs innovation, which must be reflected in the work environment as well. Just the announcement that we will build the Campus is already an inspiration for MOL’s staff: we did extensive brainstorming before design of the interior spaces began.

In building the new headquarters, the company’s goal is to create the most innovative work environment in Hungary, one that will offer an attractive, inspiring and exciting place to work for young talent as well.

The interior space is created by Berlin-based interior design company KINZO* with a focus on ensuring that the work environment supports the strategic goals of the MOL Group, increases effectiveness and be tailor-made and people-oriented. Offices are designed according to the ABW (Activity-based Workplace) model, which means that each employee will be able to choose the work environment to suit their tasks and activities and will have the flexibility to move somewhere else at any time.

The tower will be made up of three-storey units called triplets. Depending on their size, the various organizational units will either occupy an entire triplet or share it with other units. Employees will be free to choose any workspace within their own triplet. Larger community workspaces will also be available, including the „Library”, designated to quiet work, the pleasant „Office Garden” with a plethora of greenery, the panoramic Skylab and other co-working areas.

In addition to bringing unique office concepts to Budapest, the MOL Campus will also be the greenest office building in the city. The huge glass surfaces will allow 90% of work to be performed by natural light. The building's electricity needs will in part supplied by photovoltaic panels, and MOL agreed to source 10% of the materials used in the internal spaces from recycled sources or local production.

At 120 m high, the 28-storey MOL Campus will be the tallest building in Budapest. It is being built not for MOL’s employees but for all the people of Budapest: the building’s skydeck will be open to the public.

Please find more information and pictures of MOL Campus at www.molcampus.hu   

*KINZO has created interior designs for ambitious office buildings such as the ERSTE Campus in Vienna, the Adidas headquarters in Herzogenaurach and the SoundCloud office block in Berlin. KINZO is working with Minusplus as its local partner.

The architectural designs for MOL Campus have been created by the prestigious London-based architect firm Foster + Partners. In addition to the external appearance of the building, they are also responsible for designing certain internal community spaces, in coordination with KINZO. The architects’ Hungarian partner in developing the plans for the building is FintaStúdió.

2019-05-14 MOL is building a new rubber bitumen plant in Zalaegerszeg, Hungary

  • The construction of the new MOL rubber bitumen plant will begin as a brownfield investment
  • With a capacity of 20,000 tons per year, production can start next year
  • Thanks to rubber bitumen more durable, pothole-free asphalt roads can be built with higher load capacity and less maintenance costs
  • The plant recycles used tires

Budapest, 02 May 2019 – The foundation stone of the new rubber bitumen plant has been laid in Zalaegerszeg, Western Hungary in the area of the Zala Refinery. 75% of the HUF 3 billion investment is provided by MOL from its own resources, and 25% is financed through the Hungarian government’s Enterprise Investment Support Program.

Hungary’s Minister of Finance Mihály Varga, Zalaegerszeg Mayor Zoltán Balaicz and MOL Chairman-CEO Zsolt Hernádi has laid the foundation stone of the new rubber bitumen plant in Zalaegerszeg.

The rubber bitumen plant is expected to start production next year, with the capacity of 20,000 tons per year. MOL’s rubber bitumen can be used to build more durable asphalt roads with higher load capacity and less maintenance costs. The durability is well illustrated by the fact that there is no pothole on any of the roads made with rubber bitumen, although the oldest experimental roadway is 15 years old.

The rubber bitumen, which is produced using environmentally friendly technology will be used primarily in the domestic market for road construction. The patented technology is the result of a collaboration between MOL and Pannon University. The new HUF 3 billion ($10.3M) plant uses 3,000 tons of crumb rubber annually to produce rubber bitumen, which contributes to the recycling of about half a million used tires. This amount is 8-10 percent of the annual domestic tire waste. The annual production of 20,000 tons of rubber bitumen will enable the construction of a 200 km 2x1 lane road, or the renovation of the upper layer of a 600 km 2x1 lane road.

“The Hungarian government grants HUF 750 million support to MOL within the framework of the Enterprise Investment Support Program. The construction of MOL Group’s new plant contributes to better quality roads in Hungary.” said Mihály Varga, Minister of Finance at the foundation stone-laying ceremony.

“In our 2030 strategy we have a strong focus on the production of environmentally friendly, small-scale, innovative goods. We are eager to lead change: we are the only company in the CEE region that has a proprietary patent to the rubber bitumen technology. According to the calculations the cost of the road made with rubber bitumen can be lowered by 30% during its 30-year lifecycle. This cost-reduction will stimulate the widespread use of rubber bitumen in the national economy. So in addition to helping the environment with the eco- friendly solution, we are playing our part in creating quieter and pothole-free roads in Hungary.” – said Zsolt Hernádi, MOL Group Chairman and CEO.

In the Zala region, MOL has been producing hydrocarbons for over 80 years and has been refining for over 65 years. The Zala Refinery, a 5,000-ton capacity rubber bitumen plant was launched in 2012 and the new plant will be built to respond to increased demand. The new plant will contribute to the efficient operation of the Zala Refinery and will secure refinery jobs for some 100 workers.

In the past six years, 60 km of road has been built or renewed in Hungary using rubber bitumen, which means the utilization of rubber grist from some 150,000 used car tires.

(Caption reading left to right)

Zsolt Hernádi, MOL Group Chairman and CEO meets Hungary’s Minister of Finance Mihály Varga

 

BACKGROUND

About the development of MOL’s rubber bitumen

The new manufacturing technology of crumb rubber, which is made from bitumen and waste tires, was developed jointly by MOL and Pannon University. Chemically stabilized MOL Rubber Bitumen was patented in 2009, and in 2014 it was awarded the Environmentally Friendly Product Trademark. MOL Rubber Bitumen has received many domestic and international awards. Among other things, it won the Environmental Innovation Award in 2015 at the Hungarian Innovation Grand Prix competition. It also won the “Innovative Product of 2016” award of IChemE (Institution of Chemical Engineers), in a strong international field, out of 23 applicants.

In the 2000s, MOL started working on the domestic production of rubber bitumen, which was already used abroad. According to the procedure applied in the US, the rubber bitumen is made at the road construction site, because it has to be used within a few hours due to the extraction of rubber particles, and because the production of asphalt requires special equipment. In order to create a new product that can be handled in the same way as normal road bitumen, in co-operation with Pannon University, MOL has developed the so-called chemically stabilized rubber bitumen. MOL’s patented technology ensures that the rubber bitumen can be transported, stored and used later, so it can be manufactured on a large scale and can be used away from the production site.

The advantages of rubber bitumen road construction compared to conventional road construction bitumen

  • Approx. 1.5 times longer lifecycle.
  • Its fatigue properties are excellent, so the asphalt road is less cracked.
  • Larger load capacity, lower tear tendency.
  • Excellent adhesion to minerals reduces the chance of potholes developing.
  • Longer lifetime and better resistance to environmental impacts result in lower maintenance costs.
  • Significantly less road noise can be achieved, so it is not always necessary to build a noise-proof wall.
  • Improved traffic safety due to the reduced braking distance, which has a significant risk mitigation effect, especially in rainy weather or near pedestrian crossings.
  • Sustainable economic development is greatly enhanced by the use of the new road construction material, the waste tire, in road construction.
  • It recycles waste rubber materials in accordance with EU guidelines. Considering the large-scale use of capital for road construction, its use could mean actual national economic advantages.

2019-05-03 MOL Group delivered over USD 500mn EBITDA in the first quarter of 2019

  • MOL Group delivered CCS EBITDA of USD 514mn (HUF 144bn) in Q1, 2019
  • Upstream EBITDA remained flat at USD 283mn (HUF 79,4bn) compared with Q1 2018
  • Downstream Clean CCS EBITDA was weaker year-on-year at USD 138mn (HUF 38,6bn)
  • Consumer Services EBITDA continued its double-digit growth to new Q1 high
  • Net profit was USD 174mn (HUF 48,6bn)

Budapest, 3rd May, 2019 – Today, MOL Group announced its financial results for Q1 2019. In the first quarter MOL Group delivered over USD 500mn EBITDA in line with the full-year guidance.

Upstream EBITDA remained flat year-on-year in the first quarter at USD 283mn (HUF 79,4bn) as strong production offset other negative drivers. Production further edged up in the first quarter to 116,000 barrels of oil equivalent per day to a 7-year high, driven by the strong performance of the UK assets.

Downstream posted a weaker first quarter delivering USD 138mn (HUF 38,6bn) clean CCS EBITDA, which is 37% lower than in the same period of the previous year due to the deteriorating refining environment which was partly mitigated by strong internal performance.

Consumer Services continued its double-digit growth with an EBITDA increase of 10% year-on-year. The USD 89mn (HUF 24,9bn) result was due to stronger fuel sales volumes and higher non-fuel contribution. Motor fuel consumption rose 3% year-on-year in the Central Eastern Europe region (with outstanding 5% growth both in Hungary and Croatia), providing a supportive environment.

The Gas Midstream segment reached USD 66mn (HUF 18,4bn) EBITDA in the first quarter, down to 23% year-on-year.

Chairman-CEO Zsolt Hernádi commented the results: “We delivered over USD 500mn EBITDA and positive simplified free cash flows in first quarter, putting us on the right track to meet our 2019 guidance and to fund our transformational investments. Earnings declined from a high base as refinery margins were substantially weaker and this was only partly mitigated by our strong internal performance across all businesses. Consumer Services continued to deliver double-digit EBITDA growth as we celebrated the 700th Fresh Corner opening, while Upstream increased its production to the highest level since 2012.”

About MOL Group
MOL Group is an integrated, international oil and gas company, headquartered in Budapest, Hungary. It is active in over 40 countries with a dynamic international workforce of 25,000 people and a track record of more than 100 years in the industry. 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. MOL Group operates four refineries and two petrochemicals plants under integrated supply chain management in Hungary, Slovakia and Croatia, and owns a network of 2,000 service stations across 10 countries in Central & South Eastern Europe.

Press contact
@: internationalpress@mol.hu

2019-04-15 MOL Group enters into recycled plastic compounding by acquiring Aurora Group

  • The acquisition is in line with MOL Group 2030 Strategy’s objective to extend petrochemical portfolio with higher value-added products
  • The transaction with Aurora will enable MOL to strengthen its position as automotive supplier
  • MOL and Aurora envisage ambitious growth of the business in Germany and find expansion into Central Eastern Europe an attractive opportunity
  • This strategic step complements MOL’s initiatives in the recycling sector

Budapest, 15 April 2019 - MOL Group announced that it has signed a sales-purchase agreement to acquire Aurora, a recycled plastic compounder with production plants located nearby automotive manufacturing and plastics conversion clusters in Baden-Württemberg, Germany.

Aurora is a medium-size German company, headquartered in Neuenstein, with a unique and lean closed loop concept assuming collection of post-industrial plastic waste, regrinding and compounding, ultimately supplying the automotive industry and other industries. The company’s portfolio largely consists of engineering plastics and polypropylene recyclate-based compounds.

With this investment, MOL will be able to offer a wide range of high-quality polyamide, polypropylene and other recyclate-based compounds, complementing its existing portfolio of virgin polypropylene and polyethylene. Leveraging on Aurora’s know how and loop logistic system, MOL will enable the customers to reach higher content of recycled material in their end products, in an efficient way.

Ferenc Horvath, MOL Group Executive Vice President of Downstream commented: „In line with our MOL 2030 strategy, we have reached yet another milestone on our transformational journey to become the leading chemical player in the CEE region. This partnership will enable us to grow and add value to our petrochemical business as well as to increase our footprint in the automotive supplier market. As an established polymer player, we plan to use the strength of our integrated business model, while keeping the flexibility of Aurora as an independent compounder. At the same time, Aurora’s operations profile complements our initiatives in the recycling sector and reaffirm our commitment to sustainability and circular economy.”

Dr. György Bacsa, MOL Group Senior Vice President of Group Strategic Operations and Corporate Development: „We are pleased to have managed and executed another successful investment on the path towards petrochemicals growth, and marking another milestone of MOL Group’s strategy. We look forward to the future cooperation with our new partner and believe in the continuation and expansion of Aurora's previous success as part of MOL Group.”

Gerhard Schweinle, founder and member of the Management Board of Aurora: „In MOL Group, we have found a partner with the same drive for sustainable development and innovation as we have in Aurora. We are confident that MOL is the ideal partner for our company to advance our ambitious goals with regard to sustainability and environmental protection even more intensively than before. As part of MOL Group, one of Europe's leading suppliers of polymers, Aurora will continue to expand its expertise in the processing of engineering plastics. Our extensive range of sustainably manufactured products and MOL's many years of experience will enable us to work more intensively to protect our raw material resources and relieve the burden on the environment. Together with MOL, we will continue Aurora's success story and accelerate our growth even further."

One of the cornerstones of MOL Group 2030 strategy is to expand the company’s petrochemicals value chain. As such, MOL plans to invest around USD 4.5 billion until the end of the next decade into petrochemical and chemical growth projects. Compounding and recycling are among the key areas defined in MOL’s 2030 Strategy and the automotive industry is a strategic sector, where both MOL and Aurora recognize a growing demand for recycled materials.

The transaction is subject to the relevant merger control approvals.

* Aurora Group consists of Aurora Kunststoffe GmbH, Aurora Kunststoffe VS GmbH and Aurora Kunststoffe Walldürn GmbH.

About Aurora
Aurora Kunststoffe GmbH, founded in 2009, is a family-run, medium-sized company headquartered in Neuenstein (Germany) focusing on the production of high-quality technical plastic compounds. The company exclusively recycles single-variety industrial plastic residues, which are processed into plastic grinding materials, granulates and compounds in a resource- and environment-friendly process at its headquarters as well as at its two grinding centers in Walldürn and Villingen-Schwenningen. The product range includes materials such as polyamide PA 6, PA 6.6, PA 11, PA 12, POM, PP, PC and PC-ABS, which are supplied to customers in the automotive, furniture, electrical, construction and machine industries. The unique Aurora Lean Logistics concept consists of its own box concept for the collection of unmixed plastics, which gives Aurora extensive access to high-quality secondary raw materials. In the beginning of 2019, a new state-of-the-art compounding facility was completed in Neuenstein, doubling production capacity compared to the previous year up to 15,000 tons per year.

2019-04-11 MOL’s 2019 Annual General Meeting Approves HUF 107 Billion Dividend

  • Shareholders approved consolidated financial statements of MOL Group for 2018
  • Annual General Meeting accepted dividend payment of HUF 107 bn (USD 376 mn)
  • Appointments made to the Board of Directors, Supervisory Board and Audit Committee
  • MOL Group Annual Report 2018 can be accessed at info/annualreport2018

Budapest, 11 April 2019 – Today, MOL Plc. held a successful Annual General Meeting in Budapest. The General Meeting accepted the Board’s proposal for the distribution of profits through a dividend payment of
HUF 107 bn, a significant increase compared to last year. Shareholders approved the report of the Board of Directors regarding finances for the year 2018 and the consolidated financial statements. The Annual General Meeting also acknowledged the work of the Board of Directors performed during the 2018 business year and granted waiver to the Board of Directors and its members.

The base dividend is expected to rise by 11.8% to approximately HUF 95 per share from last year’s HUF 85 per share, thus continuing the previous trend of gradually increasing the regular dividend payment. Additionally, similar to last year shareholders approved special dividend proposed by the Board on the back of strong cash flows achieved in 2018. With the special dividend representing a 50% top-up of HUF 47.5 per share, the total dividend per share is expected to reach approximately HUF 142.5 for the 2018 financial year.

The Annual General Meeting approved the Board’s proposal for re-election of Dr.  Sándor Csányi, Dr. Anthony Radev, and Dr. János Martonyi as well as the election of Mr. Talal Al Awfi as members of the Board of Directors. Furthermore,
Dr. Anett Pandurics was elected as a member of the Supervisory Board and Audit Committee.

Zsolt Hernádi, MOL Group Chairman-CEO, commented on the Annual General Meeting: “I am pleased to close the 2018 financial year today, which will be remembered as a successful and also a defining year. A year when we invested in new businesses and new technologies that will set the stage for our future transformation and growth, as the board and the management focus on its long-term pursuit: to transform the business while continuing to deliver a solid operational and financial performance. I would like to thank our shareholders for supporting the resolutions put forward by the Board of Directors. In 2019, we will continue transforming our business, while striving to deliver a best-in-class investment case.”

In 2018, MOL increased its EBITDA by 10% to USD 2.69 bn, comfortably beating its upgraded target. Upstream and Consumer Services continued to significantly increase their contributions, while the strong internal performance in Downstream partly offset the weakening margin environment.

2019-03-29 Slovakia-based GA Drilling receives significant funding from Lead Ventures and signs Service Agreement with MOL Group

  • GA Drilling is a world pioneer in developing innovative technology for contactless drilling and P&A milling using its proprietary electric plasma disintegration process
  • The aim of partnership is to enable GA Drilling to successfully deliver its first commercial application for Oil & Gas industry
  • The EUR 4.2 million investment comes from Lead Ventures, with funding provided by MOL Group and Hungarian Eximbank

Bratislava, 29 March 2019 – GA Drilling signed a EUR 4.2 million funding agreement with Lead Ventures and a service agreement with MOL Group. Lead Ventures, a Budapest based venture capital firm invested funds provided by MOL Group, and Hungarian Eximbank. The deal gives GA Drilling access to onshore production wells to test its disruptive PLASMABIT plug & abandonment technology in real field conditions. The agreement is a major step in enabling the commercialization of the PLASMABIT technology, which can bring positive environmental impacts, and significant cost and time reductions when compared to conventional methods of decommissioning of unused oil wells.

GA Drilling is a world pioneer in developing innovative technology for contactless drilling and P&A milling using its proprietary electric plasma disintegration process. The technology opens opportunities within multiple sectors with the initial focus being the environmental plug and abandonment of old wells, slot recovery and other decommissioning services. In parallel, the company continues to develop further applications for hard rock drilling enabling access to deep geothermal energy, as well as tunneling and mining of raw minerals.

The aim of partnership with Lead Ventures and MOL is to enable GA Drilling to successfully deliver its first commercial application for oil & gas industry, testing PLASMABIT in real field conditions onshore. In the meantime, GA Drilling continues to seek strategic partnerships with other oil majors for offshore platform and subsea wells for testing PLASMABIT worldwide.

“The novel solution developed by GA Drilling has the potential to positively disrupt a very traditional segment of the energy markets. In our view this is one of the most promising energy innovations in the Central European region. Lead Ventures is committed to support those innovative companies which require substantial funding to further their development and has the potential to be the next success story in Central Eastern Europe.” - said Ábel Galácz, CEO of Lead Ventures.

“GA Drilling now has the ability to commercialize its technology with a major oil company in an operational environment as an integrated services company. We can now optimize our PLASMABIT P&A process and prove the commercial effectiveness of the application for the global market. Having MOL Group and Lead Ventures as strategic partners demonstrate the transition, we are making from a technology company to an international service focused business. It validates our combined efforts, our belief in PLASMABIT as a significant game changer with considerable upside in various applications for the industry. We appreciate continuous support and trust of our equity investors, R&D backing from EU public grants, loan from Slovak government to refinance the long-term infrastructure and extending of industrial cooperation, jointly bringing us to today’s success.” - said Igor Kočiš, co-founder and CEO of GA Drilling.

In currently opened Series “B” round of financing, GA Drilling has contracted more than 85% of round’s investment volume. The earlier investors of Series “B” round – Berlin Technologie Holding, Slovak Investment Holding and American investor Ted Halstead have been followed by MOL Group, European oil major. MOL signed the Service Agreement, enabling GA Drilling to gain the access to onshore production wells. The direct investment from MOL Group is executed through their investment body Lead Ventures founded in 2018. Remaining part of the last ticket left in the Series “B” continues to be in negotiations.

About Lead Ventures

Lead Ventures is Central and Eastern Europe's industry specialized venture capital and private equity firm. Its mission is to identify and support the most promising ventures in the CEE region, encouraging entrepreneurs to disrupt established industries with innovation. Lead Ventures has EUR 100 m under management invested by MOL, the region's most successful energy company, and two financial institutions specialized in supporting the start-up ecosystem - the Hungarian Development Bank (MFB) and Eximbank. The firm looks for dynamic teams active in the fields of advanced energy, mobility, business to business services and software with unique stories validated by the market, having outstanding growth potential and global reach. Lead Ventures provides investments of EUR 2-10m, targeting series A-B financing rounds. Beyond investment, Lead Ventures dedicates their expertise and professional network to facilitate growth of their portfolio companies.

About GA Drilling

GA Drilling is a hi-tech company founded in 2008, developing a revolutionary electric plasma technology called PLASMABIT focusing of changing the global energy mix. PLASMABIT technology is able to drill faster, deeper and cheaper than conventional methods, therefore, will provide access and make geothermal energy more economical globally in more than 70% of the most populated earth's areas. PLASMABIT has a potential to radically change other industry segments too such as plug and abandonment of the old wells in oil & gas industry, tunneling, mining exploration, mining minerals and others. One of the strategic partners of GAD is Schoeller-Bleckmann Oilfield Equipment, the Austrian technology leader of the extractive industry. In 2018 GA Drilling successfully passed a final evaluation of international project competition, aspiring for support from InnoEnergy, an association of industry companies, focused on energy innovations support.

Contact for media, GA Drilling

Zuzana Kačánová
m: +421 910 838 870 | @: media@gadrilling.com

2019-03-04 MOL Group Looks For Top Graduates To Apply For Its Growww 2019 Program

  • Application is now open until 28 April 2019 at info/growww
  • Growww is MOL Group’s flagship talent acquisition program for fresh graduates interested to kick-start their careers in the leading multinational company in CEE
  • Since 2007, more than 2,100 talented individuals from all around the world joined MOL as part of the program, with the best-in-class retention rate of almost 80% in 2018

Budapest, 4 March 2019 – Today, MOL Group announced a call for applications for the next edition of its award-winning talent acquisition program, Growww 2019, which offers fresh graduates a unique opportunity to kick-start their career in one of the largest corporations in Central Eastern Europe. Through the program MOL aims to develop a new generation of industry experts, offering them an opportunity to learn and solve real-life business challenges while working in one of the most complex industries.

MOL Group opens over 140 positions in the areas of engineering, business, IT as well as social and natural sciences. Candidates with up to one year working experience can apply for positions both at the Headquarters in Budapest and in MOL Group’s local subsidiaries in ten countries: Austria, Croatia, Czech Republic, Hungary, Italy, Norway, Poland, Romania, Slovakia and Slovenia.

This intensive one-year program offers a possibility to gain insight into the operations of MOL Group across all business and functional areas. On top of the on-the-job learning and visits to various MOL’s industrial sites, young professionals have a possibility to gain industry-specific knowledge through structured business education program, which is also an excellent opportunity to network with company’s top executives and make professional relationships. Each participant is supported by a mentor who provides professional guidance and feedback as well as helps adapt to a dynamic, multicultural working environment.

“Since the 2007 launch of the Growww program, we are receiving year on year over six thousand applications; we hired over two thousand Growwwers, at the same time maintaining a strong, 80% retention rate. For me personally, this continuous popularity of our flagship talent acquisition program is another proof that MOL is one of the most attractive employers in the CEE region. As a global company, we give young people the freedom to think big and the capability to bring these ideas to life. Since we embarked on our strategic business transformation, I believe that nurturing this innovative spirit is more important than ever to future-proof our company for the years to come.” – said Zdravka Demeter Bubalo, HR Vice President at MOL Group.

Over the last decade the Growww program has gained wide international recognition and became a real industry trademark, with the best-in-class retention rate of almost 80%. At the same time, the female representation among those hired reached 40% last year, well above the Oil & Gas industry average.

For more information about Growww 2019, please visit: molgroup.info/growww

2019-02-22 MOL Group 2018 Results: Highest EBITDA since 2011

  • Clean CCS EBITDA reached USD 2.69bn, up 10% versus previous year
  • Upstream’s contribution jumped by 49% y-o-y, Consumer Services increased by 18%
  • Net profit reached again USD 1.1bn, equaling previous year’s result

Budapest, 22 February 2019 – Today, MOL Group announced its financial results for 2018. MOL increased its EBITDA by 10% comfortably beating its upgraded 2018 target as Upstream and Consumer Services continued to significantly increase their contributions, while a strong internal performance in Downstream partly offset the weakening margins.

Clean CCS EBITDA rose by 16% in the last quarter compared with Q4 2017 resulting in an EBITDA of $2.69bn for 2018. This represents a 10% increase versus 2017 and is significantly above the target. MOL continued its strong free cash flow generation at USD 1.4bn with Upstream generating nearly 70% of that.

Upstream EBITDA was the Group’s largest contributor in 2018 with USD 1.269bn. This is an increase of 49% on the back of higher oil & gas prices and the contribution of high-margin barrels from the UK’s Catcher field. As production of Catcher reached plateau, total daily production of the Upstream portfolio in the fourth quarter averaged 115 thousand barrels of oil equivalent, bringing the full year average to 111 thousand.

Downstream Clean CCS EBITDA reached USD 995mn for the year. The decline of 16% is primarily due to lower refining and significantly lower petrochemical margins. A stronger internal performance – the successful delivery of USD 110mn efficiency improvements of the DS 2022 program – and higher volumes could only partly offset the weakening margin environment.

Consumer Services EBITDA continued its double-digit growth to new all-time highs. In 2018 EBITDA reached USD 423mn, up by 18% from the previous year, driven by the dynamic expansion of non-fuel margin while also supported by healthy fuel market trends. Non-fuel margin per site grew 15% annually in the past four years on average.

The Gas Midstream segment reached USD 189mn EBITDA in 2018, 15% lower than a year ago due to tariff changes and rising energy cost.
Chairman-CEO Zsolt Hernádi commented on the results: “2018 was another year of very strong delivery with the highest EBITDA in 7 years, and it was also a year of continued transformation, including the final investment decision on the polyol project. Upstream generated nearly USD 1bn free cash flow and increased its production, Downstream had robust profitability despite weaker refinery and petchem margins and achieved further considerable efficiency improvement, while Consumer Services maintained its double-digit EBITDA growth and launched various new innovative services. We have very strong foundations - a robust balance sheet on the back of several years of strong free cash flow generation, a resilient, integrated business model and a talented and dedicated workforce - to look into 2019 with optimism. We expect to deliver around USD 2.3bn EBITDA this year, assuming a more conservative downstream environment and a Brent crude price an around USD 60/bbl. This shall provide us enough cash flow to cover the increasing investments into our major transformational projects.”

2019-02-12 MOL and Total joined forces to extend their fuel cards acceptance network in Europe

  • The agreement provides for the extension of MOL Group’s fuel card acceptance network with around 4,000 stations in five Western European countries
  • From February 2019, MOL Group Cards are accepted in Total’s network in France, Belgium, Luxembourg, The Netherlands and Germany
  • Providing a smooth and convenient card usage for B2B customers is in line MOL Group’s vision of the 2030 strategy to become the first choice of customers

Budapest, 12 February 2019 – MOL and Total signed an agreement which will make travelling across Europe easier for their corporate customers. The agreement provides for acceptance of MOL Group Cards by Total in its network of stations in France, Belgium, Luxembourg, The Netherlands and Germany. At the same time, the Total fuel cards will be accepted in the MOL’s and Slovnaft’s network of stations in Hungary, Romania, Slovenia and Slovakia.

As a first step, starting from February 2019, Total fuel cards are accepted in MOL’s network in Hungary and Romania. MOL Group Cards’ owners are able to benefit in return from the acceptance of their cards in Total network in France, Belgium, Luxembourg, The Netherlands and Germany. The roll-out of Total card acceptance to MOL Slovenia and Slovnaft’s network in Slovakia will be finalized over the next months.

As a result of this agreement, MOL Group Cards will be accepted in nearly 7,000 stations in Europe. At the same time, the Total card will be accepted in more than 17,000 points of sales.

“Opening the possibility to use our fuel cards in Western Europe is an important milestone, which will not only help us grow our business, but will also contribute to one of the key objectives of MOL Group 2030 strategy: to become the first choice of our customers.” - commented Zsolt Pethő, Group Downstream Commerce & Optimization Senior Vice President at MOL Group.

 “This agreement strengthens our position in Eastern Europe and completes perfectly our offer. It represents yet another step towards consolidating our strong position on the fuel cards in Europe. Finally, it contributes to one of the Total’s key objectives: to support our customers in their energy choices and to be the partner of their mobility.” - declares Benoît Luc, Total Marketing & Services, Senior Vice President for Europe.

About MOL Group fuel cards

MOL Group fuel cards enable cashless purchase of fuel and related products and services in its wide acceptance network in 10 countries in Europe. This convenient solution for the B2B segment simplifies fleet management and helps reduce its operating costs, while ensuring a full control of expenses. Besides refueling, MOL Group Cards offer a possibility of toll payment in most of European countries, as well as VAT and excise duty refund for purchases abroad.

About Total fuel cards

Total fuels cards facilitate cashless refueling, purchases on service stations, payments towards such systems as tolls, tunnels and bridges. Another great feature of the card is the hassle-free VAT reclaim procedure on transactions made abroad. Total guarantees 24/7 access to roadside assistance in 40 countries across Europe. The card is a proven and effective tool, now available at over 17,000 service stations throughout Europe.

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