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MOL has overtaken OMV in its market capitalization

Hungary’s oil and gas major MOL has overtaken Austrian peer OMV in terms of market capitalization and so has become the leading oil company of the region, Concorde group reported on its Facebook profile.

However, Concorde added, the advantage is mainly due to the fact that OMV, strongly dependent on the Libyan oil exploration, has fallen 15% in the past three days because of serious disturbances in the North African country. Therefore, online commented, MOL’s leading position is probably only temporary.