Good news: MOL extracts more oil in Hungary than previously hoped for
Hungary’s MOL has boosted daily production at a field in Vecsés, on the outskirts of the capital, by 600 barrels of oil with the addition of a third well, the oil and gas company said in an announcement on the website of the Budapest Stock Exchange on Wednesday.
Daily production at the Vecsés field now stands around 4,000 barrels, close to 30pc of MOL’s domestic production and 4pc of group-level production.
Archibald Schubert, managing director of MOL E+P Hungary, said the company planned to plough close to HUF 100bn into exploration and production in Hungary over the next three years.
Read also:
- Hungary’s dependence on Russian oil is problematic, according to analyst – Here’s why
If you would like to support the work of the Daily News Hungary staff and independent journalism,
please make a donation here
please make a donation here
Hot news
Official: Minimum wage in Hungary to rise in 2025
Hop on a festive train to Vienna and Zagreb’s Christmas markets with MÁV!
Hungary launches EUR 500,000 humanitarian aid for persecuted Christians through Hungary Helps programme
PHOTOS: Magical life-sized LEGO tram revealed in Budapest – Here’s where you can see it
Orbán at Budapest Eurasia Forum: Europe must adapt to Eurasian shift or face decline
Confirmed: Major Hungarian bank announces significant fee increases