Hungary’s MOL has reported losses in Q4 of 2014 because of exceptional costs and the fall in oil prices, Reuters informs.
In October-December 2014 the company registered net losses of HUF 68.8 bln (USD 254.6 M), compared to a net profit of HUF 5.2 bln in the same period the year before and a net profit of HUF 28.5 bln in Q3 of 2014.
MOL has refineries in Hungary, Slovakia and Croatia and production assets in the North Sea, Pakistan, Iraq and Russia. MOL has a network of over 1,700 gas stations in Central and Eastern Europe. In Romania, MOL is fourth on the fuel distribution market, behind Petrom, Rompetrol and Lukoil.