MOL Group

At MOL Group, we strive for excellence in customer engagement and experience. As a testament to this we are proud to announce that our Digital Factory team, in collaboration with IBM, has been awarded the prestigious Salesforce Partner Innovation Award in the Data Cloud Category at Dreamforce 2024! This recognition showcases the success of our innovative digital marketing platform, powered by Salesforce and IBM watsonx. Our cutting-edge technology has transformed customer loyalty, driving substantial revenue growth and enhancing experiences for millions of users. A shining example of this is our app-based loyalty program, MOL MOVE, which has 5 million users across 8 countries, solidifying our position as a leader in digital transformation and customer-centric solutions.

An important milestone for MOL Group in Azerbaijan: after years of developing and producing oil fields in the giant ACG field in Azerbaijan, we extend our footprint by entering into gas reservoir development and their commercial exploitation. The commercial agreements were signed in Baku with our Joint Venture partners.   After SOCAR and BP, MOL Group is the third largest shareholder in the ACG field. The field is the largest international contributor to our hydrocarbon production and the project plays a key role in the security of energy supply of Central Europe. The production of the field gives us crude oil sourcing flexibility for our refineries both in Slovakia and Croatia so the whole region benefits from this partnership.   Moreover, MOL Group and SOCAR signed a Memorandum of Understanding to evaluate further potential cooperation opportunities in the area of hydrocarbon exploration in Azerbaijan to which we contribute our experience, technical and commercial knowledge, and financial resources.

Another important step towards smart energy transition: production has started in MOL Group's green hydrogen plant in Százhalombatta. The facility produces 1,600 tonnes of clean, carbon-neutral green hydrogen per year that we primarily use for fuel production.     With its 10 megawatt capacity, the facility is the largest green hydrogen plant in Central and Eastern Europe. It reduces the Danube Refinery's carbon dioxide emissions by 25 000 tonnes per year, as much as the annual carbon dioxide emissions of roughly 5400 typical cars.     The step is in line with MOL Group's SHAPE TOMORROW corporate strategy to make the region more sustainable, competitive and self-sufficient. 

Good news from Pakistan: MOL Pakistan has made 3 significant gas discoveries in the TAL Block, where the company, a fully owned subsidiary of MOL Group has operated for 25 years. The Razgir-1 exploratory well was spudded in January 2024 and drilled to 3,950 meters. Three successful well tests have been performed so far and gas and condensate were discovered in 3 separate geological formations. In total, “Lumshiwal-1 Formation” tested approx. 3800 boepd of gas and condensate. The “Kawagarh Formation” tested at approx. 3000 boepd, while in the “Lockhart Formation”, an approximate flow rate of 3500 boepd was achieved. MOL is the operator of the TAL Block with 8.4% share. “This result shows the resilience and professionalism of our team that provides energy supply security in Pakistan for two decades.” – said Zsombor Marton, Executive Vice President, Exploration and Production, MOL Group. Congratulations to our Team in Pakistan!

We celebrate World Biodiesel Day on 10 August. The renewable energy source is produced among others from vegetable oils, animal fats and used cooking oils, and 1 ton of it saves up to 2-3 tons of carbon dioxide emissions compared to fossil diesel. MOL Group places great emphasis on renewable fuels. Currently we provide these in 9 countries worldwide, mainly biodiesel or bioethanol, and we mix other materials of renewable origin as well, in quantities of several hundred thousands of tons. During our fuel development we treat waste as a raw material and energy source that otherwise, without collection, recovery and processing might cause serious environmental damage. Biodiesel plays an important role in the smart energy transition as it makes traditional fuels more sustainable, and the technology also offers new solutions for air transport.

Today MOL Group announced its financial results for Q2 and H1 2024. In the first six months MOL Group delivered USD 916 mn profit before tax, marking a 19% increase year-on-year while in Q2 it reached USD 534 mn. Both Downstream and Upstream generated stable and reliable financial results thanks to steady demand on refining side and slightly higher hydrocarbon prices. Consumer Services’ performance has been driven by fuel sales volumes and the further strengthening non-fuel margin.   More details here: https://lnkd.in/ee3ssbqs

The balance between work and family life is crucial for the overall happiness of employees. We are proud to create numerous family-friendly benefits in our companies, which have a positive impact not only on our colleagues but also their loved ones.   Among other benefits, MOL Magyarország employees can utilize the services of the newly built kindergarten next to MOL Campus. Additionally, the company prirotizes the health of colleagues with a wide range of high-quality private healthcare services and annual health screenings. Slovnaft allows family members of employees to use its sports fields, swimming pool, tennis courts, and gym for free. The company also regularly organizes joint family programs, offers nursery and kindergarten services along with meal allowance for employees on maternity or parental leave. INA Grupa provides numerous benefits to support the families of employees, but special focus is always put on opportunities for kids - such as summer camps, language schools, music education, children’s plays and books, clothing and school supplies and other activities and services at discounted rates.   Beyond the benefits mentioned above, employees at all three companies are entitled to extra leave. At MOL, new fathers receive 5 days, single parents receive 2 days, and female colleagues undergoing fertility treatment receive 10 days of extra leave. At Slovnaft, mothers raising children under 15 and single fathers are entitled to an additional 3 days of leave. At INA, extra leave can be requested in special occasions such as marriage or moving, and dads also have the opportunity to take a three month paternity leave to enjoy fatherhood.   If you feel that our family-friendly solutions can provide you with the support you're looking for, we welcome you to join our team and experience the difference for yourself. #MOLGroup #WeCreateSolutions

The first informal meeting of the Competitiveness Council, attended by EU ministers and state secretaries responsible for competitiveness, was held at our headquarters, at MOL Campus. The event, was part of Hungary's EU presidency program and was attended by industry players who highlighted that the future success of the green energy transition requires preserving and enhancing Europe's competitiveness. Learn more about the meeting in our video:

In this extreme heatwave, with temperatures constantly breaking records, many of our employees are working tirelessly in MOL's refineries, oil and gas fields, plants and service stations. We'd like to thank their commitment, because this way we can guarantee an uninterrupted supply, even in these extreme conditions. We appreciate their perseverance, which allows our economies to keep running. Thank you! #MOLGroup

We are delighted to share that the final competition of the MOL Group Growww program was held on June 14, where our newly graduated Growww employees presented their project ideas to the judges and to the audience. In this year's competition, jury members Branislav Vinter, Lana Faust Križan, Judit Campos, Andras Svebis, Tivadar Runtág and Robert Thomas P. made the decision about which of the 4 teams performed the best. The event also included a panel discussion, where the current Growwwers and their managers shared their experiences and the development of the past 1 year. At the end of the event, the contestants took part in a quiz, where the most successful participants were rewarded with Strand Festival tickets. We would like to congratulate to all participants!   To learn more about the MOL Growww Fresh Graduates Program visit our Career site: https://karrier.mol.hu/en   #MOLGroup #Growwwprogram #wecreatesolutions