Mol’s upstream positions for the long term
The oil and gas division wants a role beyond just providing cash for the group to pivot to lower-carbon alternatives
Hungary’s Mol has laid out a three-pronged approach to its 2030+ strategy of moving “profitably towards net zero”. But the three pillars—sustainable fuels, consumer convenience and mobility and the circular economy—leave, at first glance, little scope for its previously core oil and gas production activities. So will upstream revenues simply be used to fund the pivot to lower-carbon businesses? Or is there still a key role for hydrocarbons—albeit, in the future, decarbonised through carbon capture and storage—in Mol’s longer-term activities? Petroleum Economist spoke to Berislav Gaso, the firm’s executive vice president, upstream, to find out more. Is Mol’s upstream division just a short-t
![](/images/white-fade.png)
Also in this section
26 July 2024
Oil majors play it safe amid unfavourable terms in latest oil and gas licensing bid rounds allowing Chinese low-ball moves
25 July 2024
Despite huge efforts by India’s government to accelerate crude production, India’s dependency shows no sign of easing
24 July 2024
Diesel and jet fuel supplies face a timebomb in just four years, and even gasoline may not be immune
23 July 2024
Rosneft’s Arctic megaproject is happening despite sanctions, a lack of foreign investment and OPEC+ restrictions. But it will take a long time for its colossal potential to be realised