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MOL to raise ratio of higher-added-value products

Hungarian oil and gas company MOL is boosting production of higher-added-value products at its refinery south of Budapest, Béla Kelemen, in charge of refinery activities, said.

MOL aims to boost the ratio of diesel produced at the refinery from 46% to over 50%, Kelemen said. MOL's refinery in Hungary as well as the one at its unit in Slovakia score high on the Nelson Complexity Index, a measure of refinery capacity for high added-value products, he said. While the average for refineries in Europe is 7.6 on the index, the measure at MOL's refinery in Hungary is 11.5% and that at the refinery in Slovakia is 10.6%. The index is 6.2% for Austrian peer OMV's refinery in Schwechat, he added.

MOL's daily refinery capacity is 470,000 barrels, including 160,000 barrels at the refinery in Hungary or about 8.1 tons a year. It turns out about 23 million tons of product a year, refining 7 million tons of crude alone in Hungary. Total daily refinery capacity in Europe is more than 10 million barrels. Global daily demand for refinery products is a daily 85 million barrels. (MTI - Econews)