- CEO
- Zsolt Hernadi
- Full Time Employees
- 28,743
- Sector
- Energy minerals
- Industry
- Oil refining/Marketing
- Address
- Dombovari ut 28 Budapest BU Hungary 1117
- IPO Date
- Nov 28, 1995
- Business
- MOL Magyar Olaj- és Gázipari Nyilvánosan Működő Részvénytársaság (MOL Group) operates as an integrated international oil and gas corporation with activities spanning exploration and production, refining, petrochemicals, retail, gas transmission, and innovative services; it produces and markets fuels including gasoline, diesel, heating oil, bunker diesel, aviation fuel, and LPG; lubricants, base oils, waxes, and finished lubricants; petrochemical products such as high- and low-density polyethylene, polypropylene, butadiene, polyol, bitumen, sulphur, petroleum coke, and fuel oil; and provides consumer services like EVO Fuels, e-charging solutions, MOL LIMO carsharing, loyalty cards, and Freshcorner gastro concepts at approximately 2,400 service stations under six brands across nine countries, primarily in Central and Eastern Europe where it holds market leadership in Hungary, Slovakia, Croatia, and Bosnia-Herzegovina. The company conducts upstream operations in 15 countries including Hungary, Croatia, Pakistan, Kurdistan, Russia, Kazakhstan, Egypt, Romania, and Azerbaijan, with daily production around 92,000 barrels of oil equivalent and reserves of 348 million barrels of oil equivalent; downstream activities feature three refineries with 16,420 kilotons annual throughput, two petrochemical facilities including an 890 kilotons per year steam cracker for ethylene, and logistics, commerce, optimization, research and development, oilfield chemicals, digital factory services, and natural gas transmission. Founded in 1991 and headquartered in Budapest, Hungary, MOL Group employs 25,000 people across more than 30 countries worldwide, encompassing Central and Eastern Europe, Southern Europe, North Sea, Middle East, Africa, Pakistan, Russia, and Kazakhstan, with downstream manufacturing and sales focused on fuels, lubricants, additives, and petrochemicals distributed to over 40 countries. In recent developments, MOL Group transitions to a full holding company structure approved by its Board of Directors and Supervisory Board to enhance agility, decision-making, and strategic oversight amid regulatory changes and business complexity; it updated its Shape Tomorrow strategy in March 2024 with heightened focus on sustainability, circular economy, waste management as a new reporting segment, emission reductions targeting 25% scope 1 and 2 cuts by 2030 from 2019 levels and net zero by 2050, and over USD 5 billion in taxonomy-aligned capex through 2030 for petchemisation, supply security, low-carbon initiatives like carbon capture, biofuels, and hydrogen; Consumer Services aims for USD 1 billion EBITDA by 2030 via digitalization, multi-purpose stations, and mobility platforms; additionally, MOL signed a EUR 740 million ESG KPI-linked multicurrency revolving credit facility through subsidiary MOL Group Finance Zrt. and expresses interest in acquiring Lukoil's European refineries, fuel stations, and Kazakhstan producing assets.