about us | newsletter | contact | archive | members area
Anda Todor, AmCham Romania
More attention needs to be paid to the qualitative approach, rather than quantitative»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Mol Group posted a net profit of 823 million USD for Q1-Q3 2017

Mol Group announced its financial results for Q3 2017. With 576 million Dollars delivered in the quarter, clean CCS EBITDA for the first nine months of the year is 12 per cent up from last year and stands at 1.87 billion USD.

2017-11-03 11:09:36

Upstream delivered 188 million USD EBITDA in Q3 with average daily production reaching 105,000 barrels of oil equivalent. Over the first nine months Upstream EBITDA grew by more than 30 per cent compared to Q1-Q3 2016. The segment continued to generate strong free cash flows in 2017, 15 USD on average on each barrel produced. This was achieved at average Brent prices of 52 USD per barrel.

Downstream posted lower clean CCS EBITDA at 271 million USD as both petrochemicals and refining contribution declined due to lower wholesale margins, lower own produced product sales and one offs. Downstream's contribution for the first nine months remained flat at 923 million USD

Chairman-CEO Zsolt Hernadi commented the results: "After the first nine months of the year we are well on track to deliver on our upgraded 2.3 billion UDS Clean CCS EBITDA guidance and on our MOL 2030 strategy. We continue to generate robust free cash flows this year despite not fully capturing the opportunities of the supportive external environment in Q3."



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  5586 Views
Daily Info
President Iohannis: Interconnection projects revealed at Three Seas Initiative summit are a top level political signal

The list of priority interconnection projects presented within the Summit of the Three Seas Initiative is "a top level political signal", on Tuesday stated Klaus Iohannis, in ...

Vodafone to lay off 1,700 service center employees in Romania, India and Egypt

Vodafone, one of the biggest telecom groups in the world, will lay off 1,700 employees from its service centers in Romania, India and Egypt, in this financial year, the group'...

European Property Federation elects Liviu Tudor as new President

The European Property Federation Managing Committee elected Liviu Tudor, CEO of Genesis Property and President of the Romanian Association of Building Owners, as President of ...

Commisioner Cretu: Romania has a high level of women representation in the digital sector

Romania is one of the countries of the European Union with a high level of representation of women in the digital sector, said European Commissioner for Regional Policy, Corin...

Romania gets 450 million Euro loan from EIB for rural development programme

The European Investment Bank (EIB) is lending 450 million Euro to Romania to finance its national contribution to the implementation of the Romanian Rural Development Programm...

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
President Iohannis: Interconnection projects revealed at Three Seas Initiative summit are a top level political signal

The list of priority interconnection projects presented within the Summit of the Three Seas Initiative is "a top level political signal", on Tuesday stated Klaus Iohannis, ...

President Iohannis to hold CSAT meeting on September 4 for budget revision

Romanian president Klaus Iohannis has summoned on September 4 the members of the Supreme Council of National Defence (CSAT) to approve the budget revisions for institutions...

1 Comment

Anca Jurma named interim chief prosecutor of Romanian anti-corruption agency

Prosecutor Anca Jurma has been named the interim chief prosecutor of the Romanian anti-corruption agency (DNA) following an order by the General Prosecutor Augustin Lazar. ...

1 Comment

New Government reshuffle in Romania to take place in October

A new reshuffle of the Government is supposed to take place in early October, according to the Socialist-Democrat Party (PSD) Liviu Dragnea. He said that, together with the...

Ambassador Klemm: Women are directly affected by digital exclusion

Women are directly affected by digital exclusion, US Ambassador to Bucharest Hans Klemm said Monday at the opening of the Digital Romania International Forum.

TransferGo receives electronic money license

TransferGo, the international fast online transfer company, has been granted its e-Money license from the Bank of Lithuania. The license allows electronic money storage & t...

1 Comment

Romania could remove special excise on fuels

Romania's Finance Ministry could remove the special excise on fuel, according to the minister Eugen Teodorovici, cited by Mediafax.