Equity
Hungary MOL Downstream chief says refinery investments in Croatia not at risk
Feren Horváth added that refinery investments at MOL’s Croatian unit INA will have the necessary funding even after the planned payment of an extraordinary dividend.
MOL announced on 25 November a request for the Management Board of INA to convene an extraordinary general meeting as soon as possible with the agenda of extraordinary payout of dividends. MOL would like to propose to the EGM to vote in favour of total dividend payout in an amount of two billion kunas (EUR 260 million) from retained earnings.
Highlights of Horváth’s interview with Napi Gazdaság:
MOL announced on 25 November a request for the Management Board of INA to convene an extraordinary general meeting as soon as possible with the agenda of extraordinary payout of dividends. MOL would like to propose to the EGM to vote in favour of total dividend payout in an amount of two billion kunas (EUR 260 million) from retained earnings.
Highlights of Horváth’s interview with Napi Gazdaság:
- MOL is to launch a new Downtream programme next year, aimed - among other things - on enhancing energy efficiency
- the investments in this business are to be primarily maintenance jobs, but at the Rijeka refinery they may need to build a delayed coker unit;
- MOL wants the entire retained earnings at INA to be paid out as dividend, but the company’s balance would still facilitate future investments at the Croatian unit;
- MOL plans to continue acquisitions in the retail segment and raise the number of filling stations to 2,200 from the current 1,700;
- the goal of the group is to be among the three largest operators in every country it is present;
- from 2015 MOL would try to use Kurd oil at its Croatian and Slovakian refineries too.
