Oil and gas producer MOL Nyrt's (MOL.BU) 2011 fourth-quarter results were adversely affected by unforeseen difficulties in its downstream business, the macroeconomic environment and the conditions in Syria, the company reported Thursday.

MOL booked a net loss of 31 billion forints ($143.1 million) in the fourth quarter as a result.

MAIN FACTS:

-MOL wants to ensure growth in its upstream business and plans to accelerate investment programs and focus more on Russia, Kazakhstan and Kurdistan Region of Iraq, President and Chief Executive Zsolt Hernadi said.

-MOL is expecting improvement in its downstream business despite the recent weak performance and is planning some selected investments.

-"Our financial position improved further over 2011 ensuring a solid basis for our organic growth plans, moreover, we are continuously evaluating potential inorganic steps as well," Hernadi said.

-MOL reported unadjusted fourth-quarter earnings before interest and taxes, or EBIT, of HUF10.1 billion compared to HUF62.8 billion a year ago.

-MOL closed up 0.1% Thursday at HUF18,810 a share.

-Budapest Bureau, Dow Jones Newswires, +36-1-267-0622; budapest@dowjones.com

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