MOL Group’s international operation supported the good results in the third quarter of 2026

BUDAPEST, HUNGARY, November 6, 2026 /EINPresswire.com/ — MOL Group’s international operation supported the good results in the third quarter of 2026

– Upstream results were supported by a favourable natural gas price environment
– Downstream benefited from extraordinary refining margins, while the petrochemicals environment remained challenging
– Consumer services continued to be affected by price controls across Central and Eastern Europe
– Circular Economy Services delivered a positive result supported by efficiency measures
– Profit before tax reached USD 1,250 million
– Two one-off items supported results by USD 233 million in total

MOL Group announced its financial results for Q3 2026. The Group delivered strong results, with profit before tax reaching USD 1,250 million. Performance was supported by a favourable refining environment, higher natural gas prices and one-off items, while challenging petrochemicals market conditions and the regulated fuel-pricing environment across Central and Eastern Europe weighed on results.

Chairman and CEO Zsolt Hernádi commented on the results:

“We had a particularly good quarter. The strong performance is partly attributed to our Upstream segment, which operates in 10 countries, as the business was able to capitalize on the favourable pricing environment. Our refineries were also able to take advantage of skyrocketing product prices caused by international geopolitical events. However, the good performance was overshadowed by the fact that, in nearly all of our markets, some form of government price regulation has been introduced for our main product—fuel. This is reflected in the not-so-good results of our retail segment. One silver lining is that these measures did not cause any supply problems.

I also have to mention that strong financial performance does not stand on its own. First, past investments made these good results possible. Second, the result comes with serious corporate responsibility commitments and significant investment for the future. Over the past decade, taxes have grown faster than profits. The tax-to-revenue ratio is significantly higher than a decade ago, standing at 35% in 2026, compared to 20% in 2016, after peaking at 56% in 2022.

Despite this substantial increase of tax burden we also took care of our developments. Since 2020, we have invested over 10 billion dollars organically across the Group, including strengthening security of supply and diversification, as well as projects supporting the energy transition. Strong financial results therefore not only serve the company’s stability but also enable investments that strengthen the region’s energy security and long-term competitiveness.”

Upstream results were pushed higher quarter on quarter by increased natural gas prices, partly offset by lower oil prices on average in the third quarter. The realized hydrocarbon price averaged around USD 98/boe for the quarter. Production stood slightly above 94 mboepd, supported by higher production of both Shaikan and Pearl in the Kurdistan Region of Iraq and Fedorovskoye in Kazakhstan, while volumes were lower in Central and Eastern Europe due to a planned turnaround in Croatia and Hungary and lower production entitlement of ACG in Azerbaijan due to the higher oil price environment.

Downstream performance improved significantly year-on-year, driven by exceptionally strong refining margins, while weak petrochemicals performance continued to weigh on the segment. A one-off insurance compensation supported Q3 results. Processed crude volumes in Hungary and Slovakia were flat compared to the previous quarter, as the AV3 unit at the Danube Refinery remained offline throughout Q3. However, construction work was completed in September and production restarted at the end of October. The Rijeka Refinery upgrade programme was completed, with the new delayed coker unit (DCU) ramping up and already contributing additional diesel production from September. The unit is currently producing at close to full capacity.

Consumer Services continued to operate in a challenging regulatory environment. Fuel sales volumes increased compared to the same period last year, driven by price controls and a low-margin environment across Central and Eastern Europe. However, unit margins declined year-on-year across all key markets. Growth in the non-fuel segment sales and margins remained stable during the quarter, while the Fresh Corner network expanded to 1,438 units.

The Circular Economy Services segment delivered positive performance in Q3 2026, supported by efficiency-enhancing measures despite seasonal factors. Among key strategic initiatives, preparations for a waste-to-energy project continued, along with further optimization of collection operations in the DRS system.

Gas Midstream results decreased year-on-year as demand for regional transmission services fell sharply. Total transmission volumes dropped year-on-year, with higher domestic flows offset by lower exports to neighbouring countries.

Press contact: Internationalpress@mol.hu

Courtney Ziarno
BCM Public relations

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