MOL Group has reported a pre-tax profit of $1.3 billion for the year 2025, marking an 11% increase from the previous year. This growth was primarily driven by robust performances in its downstream and retail sectors, which effectively mitigated the adverse effects of weaker upstream market conditions.
The company faced challenges in its exploration and production segment due to lower oil and gas prices, despite maintaining solid output levels. In contrast, the refining and consumer services divisions significantly contributed to profitability, benefiting from favorable market dynamics and enhanced operational efficiencies.
Chairman-CEO Zsolt Hernádi highlighted the group’s ability to maintain operational stability amidst various challenges, including supply chain disruptions and geopolitical tensions. In the last quarter of 2025, MOL implemented several strategic initiatives, such as transitioning to a holding structure and expanding its renewable energy portfolio within Hungary. Additionally, hydrocarbon production increased to nearly 100,000 barrels of oil equivalent per day.
Recent incidents, including a fire at the Danube Refinery and ongoing disruptions along the Druzhba pipeline, underscored the vulnerabilities faced by landlocked countries regarding supply shocks. These events have reinforced the necessity for diversified crude sources and transport routes in mitigating risks associated with supply chain interruptions.
In its downstream operations, refining margins surpassed expectations, bolstered by favorable external conditions that compensated for lower throughput and weaker petrochemical results compared to the previous year. Although upstream performance remained pressured by declining commodity prices, increased production volumes from Central and Eastern Europe and the Kurdistan region of Iraq helped stabilize overall output.
In the fourth quarter alone, MOL’s hydrocarbon production exceeded 99.4 million barrels of oil equivalent, with an annual average of 94.7 million barrels—surpassing the company’s guidance range of 92–94 million barrels. For 2026, MOL anticipates production levels between 95 and 97 million barrels of oil equivalent.
The consumer services segment has also shown significant growth, driven by both fuel and non-fuel activities. Strong fuel margins in markets such as Croatia and Romania were complemented by improved non-fuel performance in the fourth quarter. The company’s Fresh Corner retail concept expanded to 1,409 locations by year-end, reflecting a quarterly growth rate of 2.7% and a 6% increase compared to 2024. Notably, non-fuel activities accounted for 35.6% of total retail margins during this period.
Gas midstream operations remained stable year-on-year, with increased transmission demand being offset by lower regulated prices. Despite somewhat less favorable market conditions, transported volumes proved resilient.
MOL Group’s integrated business model has been pivotal in navigating market volatility while sustaining profitability and advancing its strategic priorities in a challenging energy landscape.
