Mol submits binding bid for 100% stake in Russian oil field

Deals

Mol Nyrt, Hungary's largest energy company, said it submitted a binding bid for 100% of a Russian oil field to further expand in the country.

Mol, based in Budapest, submitted the bid on December 1, it said in a stock exchange statement today. Mol did not name the Russian oil field, which has more than 60 million barrels of proven and expected reserves, according to the company. The current level of output is 1,800 barrels a day, which can be significantly boosted, it added. (Bloomberg)

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.

Support the BBJ

Industry