In the first quarter of 2016, Hungarian oil and gas company MOL has achieved net income in the amount of 247 million euros, which is 165 % higher than in the same period in 2015.
After-tax profit reached 231.7 million euros, much higher than estimated profit of some 77.7 million euros. MOL’s revenues fell by 24 % in the first quarter to 2.259 billion euros, while operating costs dropped as well by similar 25 % rate and reached 2.074 billion euros.
Full article available for subscribers of Energy NEWS service (PDF publications, energy news, analyses, power and trading data, tenders)
Subscription fee: 800 EUR annually – company licensed
Tags: financial, gas, Hungary, Mol, oil