Clear strategy for MOL: „We intend to remain the region’s most efficient energy company”

„Following several successes in regional consolidation, and in keeping with our independent, long-term strategy, the take-over intention of OMV far from provides an optimal solution for regional consolidation” – stated Zsolt Hernádi, Chairman-CEO of MOL Group.

Continuation of MOL’s proven strategy is supported by its ownership of two of Europe’s most efficient refineries and for the second year running, its first place worldwide ranking in the efficiency of exploration by Global Upstream Performance Review. MOL has achieved the highest increase in shareholder’s value in Central Europe for the past decade.

MOL is the leader in energy consolidation in the CEE following its successful integration of Slovnaft, a strategic partnership with INA and together with Slovnaft, the region’s first cross-border oil industry transaction.  

In past talks of varying depth with regional counterparts, the strong regional experiences of MOL management is a clear indication of the company’s proven track record in the integration of acquired business shares. MOL only examines those opportunities which are compatible with and build on its ongoing success.

Different business fields have different consolidation opportunities. The refining and wholesale businesses within Central and Eastern Europe are in the hands of two key market players. Their consolidation would compromise the competitive landscape, leading to serious competition law concerns in the wholesale markets in five of the nine countries, and in the retail trade in the three countries where the market leaders produce 80% of their regional output.

For these reasons, MOL Group, even in the area of processing and wholesale, considers opportunities to expand outside the immediate region of the Group as well through co-operation in areas where it could create real added value through its competencies and experiences. MOL Group is currently examining opportunities in the Mediterranean region and in the eastern and western markets. In the petrochemicals and gas segments, there are opportunities for regional business-based partnerships owing to economies of scale. Several projects are under review and negotiations are being conducted.

„Our goal is clear: to continue with MOL Group’s proven strategy of sustainable efficiency. This will create maximum value for our shareholders, clients and employees and maintain our position as the most efficient energy company in the region.” – stated Zsolt Hernádi, the Chairman-CEO of MOL Group.