MOL spreads exploration and production risk
The Hungarian MOL Group is spreading its upstream risk more evenly, balancing growth in the relatively stable North Sea
“Irrespective of the oil price, you need to keep finding it”, according to MOL Group’s exploration and business development Senior Vice President, Brian Glover. The Norwegian operation was finalised when oil was $50/b, he told a press briefing in Budapest in mid October, “and we are continuing to build a position there. The rate of return is incredibly good. MOL has built up significant capital for upstream investment, and opportunities come up when companies look stressed. We are strategically looking at where the best options are.” He said there were risky areas, such as Pakistan, where it is very close to the border with Afghanistan, and Kurdistan where it has the Akri Bijell and Chaikan
Also in this section
2 April 2026
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
2 April 2026
The government is taking important steps to revive domestic production, lift investment and benefit from the geopolitical crisis even if more needs to be done in the longer term
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
