Hungary: MOL Ina oil company increases investment in production in 2015

Published on 10. December 2014., SEE Energy News

Oil company Ina, owned by Hungary MOL, plans to increase investment in 2015^th and achieve growth in the hydrocarbons production.Director of Ina management Zoltan Aldott announced that Ina would increase investment in the hydrocarbons production in 2015^th and carry out investments in refineries that could provide a return on investment and profit.

In the first statement after MOL and some pension funds have announced that they would seek the division of retained Ina earnings in the amount of 260 MEUR. Aldott said for the Bank that the company intended to increase investment in 2015^thand achieved growth in hydrocarbon production, with increased focus on international projects. “In the year ahead of us Ina remains committed to the growth in all segments of the industry, with a new investment cycle as a result of the financial consolidation that we have successfully implemented in the last few years.

In the oil and gas exploration and production, to INA as a key driver for growth, we plan to increase investment and achieve growth in hydrocarbon production, with increased focus on international projects”, said Aldott. “In the business refining, we will focus efforts on achieving long-term sustainability of this segment, enhancing our presence in the regional market with the implementation of those investments that can provide a return on investment and profit. Our retail business will further enhance the continuation of modernization, with special emphasis on competitive bidding and fuel consumer goods”, said Aldott.