MOL expects its profit in Serbia to go up 50%

Over the past three years, MOL Serbia has climbed to the second spot with a market share of 20%, and the company's positive business results have constantly been on an upward trend.

Turnover and profits have been on a rise, so MOL estimates that their profit in Serbia will go up 50% from EUR 4.5 million in 2014. Serbia has become one of the main and growing markets of the MOL Group.

- MOL in Serbia is mainly engaged in "downstream" activities, primarily in the resale of oil derivatives. We are not directly hit by low price of crude oil, which basically has an adverse effect on "upstream" operations. Actually, we can even say that cheaper price of crude oil that is in use in oil refineries has a positive effect on our production costs in four refineries that the MOL Group operates. However, it should be said that aside from the price of crude oil that is on a decline, international price of readymade products is also significantly reduced this year, which definitely has a negative effect on our company, primarily through periodic reduction of profits and our competitiveness in the market -Bianca Vasilescu, the director of MOL Serbia, told Vreme magazine.

MOL Serbia d.o.o. Beograd

MOL Serbia

MOL Group

Bianca Vasilescu

resale of oil derivatives