as bpse mol wse mol euronext mol bux component cetop20 component industry oil and gas founded 1957 headquarters budapest hungary area served worldwide key people zsolt hern di chairman & ceo j zsef moln r gceo products oil and gas exploration and production natural gas oil and lng trading and transportation oil refining and chemicals services fuel stations revenue us 24.633 billion 2012 1 operating income us 1.265 billion 2012 1 net income us 0.673 billion 2012 1 total assets us 21.200 billion 2012 1 total equity us 9.967 billion 2012 1 number of employees 31 471 2012 1 website molgroup.info mol group magyar olaj s g zipari r szv nyt rsas g hungarian oil and gas public limited company commonly known as mol is a hungarian multinational oil and gas company headquartered in budapest hungary . 2 mol is the second most valuable company in central and eastern europe . 3 mol placed 402 on the fortune global 500 list of the world s largest companies in 2013 . 4 mol s revenue was equal to one fifth of hungary s gdp at the time . as of november 2015 the largest shareholder is hungarian state with 24.74 % ahead of ez group with 7.35 % omanoil budapest with 7.00 % and ahead of otp bank with 5.84 % . more than 50 % of shares are free floated . 5 mol is vertically integrated and is active in every area of the oil and gas industry including exploration and production refining distribution and marketing petrochemicals power generation and trading . it has minor renewable energy activities in the form of biofuels . it has operations in over 40 countries worldwide it has nearly 2 000 service stations in 11 countries mainly in central and eastern europe under seven brands 6 and it is a market leader in hungary slovakia croatia . 7 mol s downstream operations manufacture and sell products such as fuels lubricants additives and petrochemicals . the company s most significant areas of operations are central and eastern europe southern europe north sea middle east and russia . mol has a primary listing on the budapest stock exchange and is a constituent of the bux index . it had a market capitalisation more than 7 billion at the close of trading on 3 november 2015 the second largest of companies listed on the budapest stock exchange . 8 it has secondary listings on euronext and warsaw stock exchange . contents 1 history 2 operations 2.1 international upstream operations 3 see also 4 references 5 external links history edit mol subsidiary slovnaft oil refinery in bratislava new polypropylene plant of mol group mol eco solar powered filling station in budapest hungary mol fuel station in transylvania romania mol nyrt . was established on 1 october 1991 through the merger of 9 companies as a legal successor of former members of the national oil and gas trust which was established in 1957 . by 1995 the actual integration of companies was completed and the previously separated entities started to operate within one joint organization . mol went for a privatization strategy in order to respond to international market challenges and also it pioneered in the regional consolidation of the oil and gas industry . citation needed in 2003 mol purchased a 25 % stake in croatia s national oil company ina . 9 in 2006 ina and mol launched a joint exploration project in the slatina zal ta area designed to secure new volumes of natural gas . the two companies are now forming a consortium in bosnia and herzegovina after winning the recapitalisation tender for energopetrol the leading petrol company of country where they got an absolute majority by holding 67 % of the shares . 10 by 2004 mol had bought in several steps slovakia s national refiner slovnaft and also hungary s leading producer of ethylene and polypropylene tvk over which mol gained control with a stake of 34.5 % in 2001 . mol further increased its stake in tvk to 86.56 % in 2006 . between 2003 and 2005 mol completed the acquisition of shell romania . in 2004 mol entered the austrian market by purchasing a fuel storage facility in korneuburg and a year later acquired the roth filling station chain . 11 in august 2007 mol purchased italiana energia e servizi s.p.a. ies owner of the mantua refinery and a chain of 165 retail stations in italy . 12 in november 2007 mol reported a new regional initiative to create a joint regional gas pipeline system called new european transmission system nets . on 20 december 2007 mol announced a strategic cooperation with czech power utility cez . the joint venture with cez focuses on gas fired power generation and related gas infrastructure in central and southeastern europe first launching two 800 mw power plants in hungary and slovakia . after selling 7 % of its shares to cez within the scopes of a strategic partnership mol announced on 10 march 2008 the sale of an 8 % stake to the oman oil company for the same reason . 13 in june 2007 austrian energy company omv made an unsolicited bid to take over mol which has been rejected by the hungarian company . on 6 march 2008 the european commission launched an in depth investigation of omv s unsolicited bid to take over mol . on 24 june 2008 omv received a statement of objections from the european commission regarding the company s attempted takeover of mol . 14 in march 2009 omv sold its 21 % stake in mol to surgutneftegas . mol called this move unfriendly . 15 on 9 may 2008 mol signed an agreement to acquire a 35 % interest in a block in india operated by the indian ongc . 16 17 on 24 may 2011 the second orb n cabinet bought the russian surgutneftegas s shares thus the hungarian state acquired 21.2 % of the shares within the company . 18 operations edit mol operates four refineries in hungary slovakia and croatia 20.9 million tonnes per year refining capacity . its refineries at sz zhalombatta hungary and bratislava slovakia are among the most profitable ones in europe with nelson complexity indexes of 10 6 and 11 5 respectively . 19 mol s filling stations amounted to more than 1 700 in ten countries at the end of 2013 . 19 mol s petrochemical division is one of the largest polymer producer in central europe operated in full integration with mol s refining and marketing division . its products are sold in more than 40 countries . 20 for the natural gas division the main focus is gas transmission via an extensive high pressure gas pipeline which length exceeds 5 700 kilometres 3 500 mi . 19 mol is a member of the nabucco pipeline project . 21 in the field of renewable energy mol develops geothermal power production through the cege central european geothermal energy production a partnership with australian based green rock energy limited . 22 23 the company supports the research of second generation biofuels at the university of pannonia . 23 the company has a 20 % interest in the catcher area oil and gas block in the north sea in company with premier oil 50 % and cairn energy 30 % . in june 2014 the uk department of energy and climate change gave final approval for the 1 billion development . oil is expected to be flowing by mid 2017 . 24 international upstream operations edit mol has foreign exploration licences in with date of announcement yemen exploration blocks 48 and 49 2002 kazakhstan federovskoye block 2004 ; north karpovsky 2012 25 croatia and hungary slatina and zal ta 2006 russia baituganskoe oilfield surgut 7 block and matjushkinsky block 2006 2007 cameroon ngosso permit block 2007 iraq akri bijeel block 2007 mol has foreign production facilities in with date of announcement russia zapadno malobalyk oil field with yukos later russneft 2002 pakistan tal block 2004 mol pakistan tal block web page see also edit list of petroleum companies list of companies based in budapest references edit a b c d e f annual report 2012 pdf . mol . retrieved 30 may 2013 . about mol . mol . retrieved 3 november 2015 . top 500 in cee pdf . coface . september 2009 . retrieved 3 november 2015 . global 500 countries hungary fortune . money . 23 july 2012 . retrieved 2013 06 10 . shareholders management . 3 november 2015 . retrieved 3 november 2015 . https mol.hu en about mol media room press releases 2627 mol completed the takeover of the 19 filling stations in slovenia the number of retail stations operated by mol group in the country doubled https molgroup.info en our business downstream retail presence http molgroup.info investor relations share information listing information peter s. green 2003 06 18 . croatia refiner sold . the new york times . retrieved 2008 02 12 . consortium mol ina signed contract with the government of fbih for energopetrol s recapitalization press release . mol group . 2006 08 09 . retrieved 2010 02 15 . the mol story . mol group . retrieved 2010 02 15 . mol plans capacity increase at newly acquired italian refinery . downstream today . 2007 08 01 . retrieved 2007 08 03 . hungary s oil firm mol sells 8 pct . stake to oman seen as step to thwart takeover by omv . international herald tribune . 2008 03 10 . retrieved 2008 03 12 . omv gets eu objections statement over mol takeover bid . forbes . 2008 06 24 . archived from the original on 2011 06 04 . retrieved 2008 06 28 . guy chazan ; margit feher 2009 04 01 . hungarian oil firm wary of russian rival s stake . wall street journal . retrieved 2009 04 05 . india s ongc would cooperate with mol in third countries . budapest business journal . 2010 02 08 . retrieved 2010 02 15 . mol picks 35 % stake in ongc . the financial express . 2008 05 09 . retrieved 2010 02 15 . rendk v li bejelent s visszaszerezt k a 21.2 % os mol tulajdonr szt extraordinary announcement we got back the 21.2 % property in mol . magyar nemzet online . 2011 05 24 . retrieved 2011 05 24 . a b c mol group consolidated annual report 2008equivalent per day in 2008 . pdf . mol group . 2009 . retrieved 2010 02 15 . https mol.hu en about mol media room press releases 2627 mol completed the takeover of the 19 filling stations in slovenia the number of retail stations operated by mol group in the country doubled rwe joins nabucco consortium as sixth partner pdf press release . nabucco gas pipeline international gmbh . 2008 02 06 . retrieved 2008 02 19 . green rock energy hungary for geothermal success . pesa news . the petroleum exploration society of australia 86 . february march 2007 . issn 1039 4419 . retrieved 2010 02 20 . a b future energy . mol group . retrieved 2010 02 20 . green signal to premier s catcher area oil block development . bbc news . retrieved 22 september 2014 . hungarian mol acquires stake in kazakh kmg ep . the gazette of central asia . satrapia . 16 november 2012 . external links edit official website molgroup.info v t e bux companies of hungary any security printing appeninn asset management cig pannonia life insurance budapest electricity works north hungarian electricity supply fhb bank graphisoft park magyar telekom mol group otp bank pannergy r ba automotive group gedeon richter zwack unicum v t e petroleum industry petroleum primary energy benchmarks argus sour bonny light brent dubai indonesian isthmus 34 light japan cocktail opec reference basket tapis urals western canadian select west texas