MOL Group Looks for Investment Opportunities in Russia

Hungary’s MOL Group is looking for new investment opportunities in Russia, while continuing exploration in its existing assets in Russia and Slovakia. 

“For MOL Group, the Russian upstream market is a great place to invest and we are actively looking for new opportunities to meet our growth targets,” József Molnár, Chief Executive Officer, MOL Group said on Thursday. 

During the 21st World Petroleum Congress, Molnár noted that the Hungarian company is looking for opportunities both in Russia, where it is also conducting exploration within its existing assets, and Slovakia.  

“Our aim at MOL Group is to complement exploration with more opportunity development in existing, discovered assets and acquisition opportunities. We need both.”

Last month, the company reiterated its intention to buy new assets, in the attempt to foster a radical change of direction after disclosing a CCS EBITDA of HUF 105b, which is 15% lower than the result reported in the previous quarter.