MOL Hungarian Oil & Gas Company News

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Transocean Wins Drilling Contracts
Wednesday, February 17, 2021Transocean has garnered several new drilling contracts and contract extensions during the past quarter.

European Refiner Looks 'Beyond the Fuel Age'
Monday, March 12, 2018MOL Group carving niche in sharing economy.

MOL Group Acquires New Licenses in Hungary
Tuesday, February 07, 2017MOL Group expands its exploration portfolio by acquiring new licenses in Hungary.

MOL Makes Oil, Gas Discoveries in Pakistan
Wednesday, July 13, 2016MOL Pakistan Oil and Gas Company B.V and joint venture partner OGDCL make 2 new onshore discoveries in Pakistan's Tal Block.

MOL Finds Condensate, Gas at Makori East-05 Well in Pakistan's TAL Block
Tuesday, July 12, 2016MOL encounters condensate and gas at the Makori East-05 development well in the TAL Block in Pakistan.

MOL Group Makes Pakistan Gas Discovery
Friday, June 24, 2016MOL Group makes a new gas discovery in its operated TAL Block in Pakistan, marking the company's 13th find in the country.

Hungary's MOL Reports Oil Discovery In Pakistan
Friday, June 17, 2016Hungary's MOL group makes a new oil and gas discovery in Pakistan, its eighth discovery in the TAL block.

Gulf Keystone Delays Bond Payments as Oil Drop Hits Finances
Thursday, April 14, 2016Gulf Keystone Petroleum will delay about $26 million of bond payments as low oil prices and disruptions in Iraq press its finances.

Mari Petroleum Makes Oil, Gas Discovery in Pakistan's Karak Block
Thursday, March 31, 2016Mari Petroleum makes an oil and gas discovery at the Halini Deep-1 well in Pakistan's Karak Block.

MOL Upstream Boosts Production amid Operating Loss
Wednesday, February 24, 2016MOL Group's upstream business boosts its production by almost 7% year-on-year in 2015, posting an operating loss of $1.65 billion in the process.

MOL, Gulf Keystone Hand Back Akri-Bijeel Stake to KRG
Monday, January 11, 2016MOL Group and Gulf Keystone Petroleum decide to relinquish their interests in the Akri-Bijeel Block in the Kurdistan Region of Iraq.

Hungarian University Students Win MOL Group UPPP Competition
Wednesday, December 09, 2015Three students from the University of Miskolc in Hungary have won MOL Group's UPPP competition, beating over 1,000 other teams from all over the world.

University of Manchester Students Reach UPPP Top 10
Friday, November 27, 2015A team of students from the University of Manchester in the UK reaches the top 10 of MOL Group's global oil and gas student competition, UPPP.

MOL Wants Change In Croatia Before Taking Bigger INA Stake
Friday, November 13, 2015Oil group MOL publicly raises the prospect of increasing its stake in Croatian peer INA for the first time in years, but said it will not do so until Zagreb adopts a more investor-friendly approach to foreign firms.

MOL Signs Agreement to Acquire Eni Slovenia
Wednesday, November 11, 2015MOL signs an agreement with Eni International B.V. for the acquisition of the entire share capital of Eni Slovenia.

MOL's Upstream Segment Posts 99% Reduction in Operating Profit YOY
Friday, November 06, 2015MOL's upstream segment posts a 99% year on year reduction in operating profit in its 3Q results.

MOL Launches Second Annual Student Competition
Thursday, September 24, 2015MOL Group invites students to take part in the company's second international UPPP competition, which will see applicants solve exploration, field development and production related tasks.

MOL, Mari Petroleum Hit Oil, Gas in Pakistan
Friday, September 18, 2015MOL Group announces that a new crude oil, condensate and natural gas discovery has been made in the Karak Block, located in Pakistan.

MOL Recruits 200 New Graduates to its GROWWW Program
Wednesday, September 16, 2015Hungary's MOL Group recruits 200 graduates from Eastern Europe, Italy and Pakistan.

MOL Scales Back Investment in Kurdistan Region of Iraq
Tuesday, September 08, 2015MOL scales back investment in the Akri-Bijeel Block, located in the Kurdistan Region of Iraq, due to payment issues associated with the block and the area's geological complexity.

MOL Achieves Best-Ever Quarterly Result
Wednesday, August 05, 2015Hungary's MOL Group achieves its best-ever quarterly result thanks to a strong contribution from its downstream operations.

MOL Group Acquires Ithaca Petroleum Norge
Thursday, July 09, 2015MOL Group successfully completes a deal to acquire 100% ownership of Ithaca Petroleum Norge from Ithaca Petroleum Ltd, for a price that could reach up to $90 million.

Freshhh 2015 Winners: Focus, Critical Thinking and Hard Work Pays Off
Friday, June 05, 2015The winning team members of MOL Group’s Freshhh 2015 competition share their experiences with Rigzone.

MOL Group Announces Freshhh 2015 Winners
Friday, May 29, 2015MOL Group announces the winners of the Freshhh 2015 competition, which sees students from all over the world compete in technology and business strategy simulations related to the oil and gas industry.

MOL Group Makes Commercial Discovery in Pakistan
Tuesday, May 19, 2015MOL Group announces a new commercial discovery at the MOL operated exploration well Mardan Khel-1 in Pakistan.

Ithaca Agrees to Sell Norwegian Business to Hungary's MOL
Friday, April 24, 2015North Sea-focused Ithaca Energy agrees to sell its Norwegian business to Hungary's MOL for $60 million.

Croatia Could Opt for Referendum on Adriatic Gas and Oil
Monday, March 16, 2015Croatia could hold a referendum on the planned exploitation of potential gas and oil wells in the Adriatic, Prime Minister Zoran Milanovic said, responding to growing criticism from environmental groups.

Europe's BP, MOL Help Grow Young Talent with Student Competitions
Wednesday, March 11, 2015BP holds the UK finals for its Ultimate Field Trip competition in London while Hungary's MOL Group launches its Freshhh completion, which is also aimed at university students.

MOL Swings to Loss, Even Though Downstream Performs Well
Tuesday, February 24, 2015MOL swings to a quarterly loss partly due to one-off costs and a steep fall in crude prices.

MOL Says Shaikan Block Crude Output Reached 40,000 BPD
Monday, January 05, 2015Hungary's MOL reports that crude production from the Shaikan block in the Kurdish region of Iraq is now over 40,000 barrels per day.

Eni, Rockhopper Give Further Details of Croatia License Award
Monday, January 05, 2015Eni and Rockhopper Exploration provide further details of their award of Block 9 in the Adriatic Sea off Croatia.

Premier Completes North Sea Asset Sales
Monday, December 22, 2014Premier Oil completes the sale of North Sea assets to MOL Group and Lundin Petroleum.

Shaikan Production to Increase to 40,000 Barrels per Day
Tuesday, December 16, 2014Work is completed on Iraqi Kurdistan's Shaikan field that will see it soon produce 40,000 barrels of oil equivalent per day.

Central European Oil Firms See 3Q Profit Boost
Thursday, November 06, 2014OMV and MOL both report upbeat results for the third quarter of 2014, driven in part by their upstream oil and gas operations.

MOL Gets Approval for Akri-Bijeel Block Development Plan
Thursday, October 30, 2014The Kurdistan Regional Government in Iraq approves a major new oilfield development that is majority-owned by Hungary's MOL.

If RWE Unit Sale to Fridman Falters, Hungary's MOL Still Keen
Thursday, October 16, 2014MOL Group says it is still interested in buying RWE's DEA unit – which holds 190 oil and gas licenses in Europe, the Middle East and North Africa – if its sale to Russian billionaire is not approved.

Hungary's MOL Holds to Production Forecast after Quarterly Downturn
Friday, August 01, 2014Hungary's MOL expects to meet its forecasts of rising crude output through to 2018.

UAE's Dana Gas Says Wins Right to Some Payments from Iraqi Kurdistan
Sunday, July 13, 2014An arbitration tribunal awards Dana Gas the right to receive some outstanding payments from the Kurdish government.

MOL Boosts North Sea Portfolio through Acquisition of 6 Licenses
Monday, June 30, 2014Hungary's MOL Group buys six licenses from Premier Oil, boosting its North Sea portfolio.

Applications to MOL's Graduate Program Soar
Thursday, June 26, 2014Hungary's MOL sees a 50% increase in applications to its 2014 Growww graduate recruitment program.

MOL Opens Middle East Regional Office in Erbil
Wednesday, June 18, 2014MOL moves Middle East and Africa regional office to Erbil in a vote of confidence in the political stability of the Kurdistan region of Iraq.

Catcher Development Plan Gets Go-Ahead from UK Government
Thursday, June 12, 2014The UK's Department of Energy and Climate Change approves Premier Oil's field development plan for the Catcher area of the central North Sea.

MOL Announces Significant Oil Find in Pakistan
Tuesday, June 10, 2014Hungary's MOL makes a significant oil discovery at the Ghauri X-1 well in the Punjab province of Pakistan.

Croatian Court to Try MOL Chairman in Absentia
Tuesday, June 10, 2014Croatia is to try the chairman of Hungary's MOL on graft charges relating to the firm's purchase of Croatian oil and gas company INA.

Hungary's MOL Makes Oil/Gas Discovery in Kazakhstan
Tuesday, May 27, 2014Hungary's MOL makes an oil and natural gas discovery at Rozhkovskoye field in the Fedorovsky Block, Kazakhstan.

MOL Closes North Sea Deal with Wintershall
Tuesday, March 25, 2014Hungarian oil and gas producer MOL closes its deal with Wintershall to acquire interest in 14 licenses in the North Sea.

MOL Launches 2014 Graduate Recruitment Program
Tuesday, March 11, 2014Hungary's MOL is seeking 250 new graduates from around the world to join its 'Growww' graduate recruitment program.

MOL Sees Crude Output Declining In 2014
Tuesday, February 25, 2014Hungary's MOL says its crude output will decline in 2014 before growing again next year.

Turkey's TPAO Says In Talks With Exxon, OMV, MOL For Joint Oil Exploration
Wednesday, February 19, 2014Turkey is holding talks with international oil companies for joint oil exploration in Black Sea, the head of state-owned exploration firm TPAO says.

MOL Eyes More North Sea Deals - Chairman In Paper
Monday, December 16, 2013Hungary's MOL plans to buy more North Sea assets after announcing its first deal in the region last week.