MOL extends Balkan retail arm following positive Q3

Hungarian company reports clean third-quarter, current cost of supplies profit before tax, interest, depreciation and amortisation of forints 198.7bn

The downstream business remains the key contributor, given the low oil price. This is an area MOL has been expanding in. In forints, CCS Ebitda downstream was 80% up on the same quarter of 2014 while upstream was down 33%. With profits (Ebitda) above $1.9bn already delivered in the first nine months, the company is “more than confident” of reaching its target of $2.2bn this year, it says. The strong downstream performance explains its purchases in recent weeks of Eni’s retail businesses in Hungary and Slovenia as outlets for its refineries’ products. No financial terms were revealed. The former deal announced 21 October brought with it 183 Agip-branded service stations, including dealer-owne