By Veronika Gulyas
BUDAPEST--Hungary-based oil and gas firm MOL Nyrt. (MOL.BU) has
completed the first phase of a new fuel terminal next to the River
Danube in Giurgiu, southern Romania, the company said in a
statement Thursday.
MOL is investing 10 million euros ($13 million) in the project,
which will have a total storage capacity of 7,000 cubic meters when
it is completed. MOL didn't say when that would be.
"Romania is included in MOL Group's long-term growth strategy;
the inauguration of the fuel terminal in Giurgiu is a significant
milestone [in its expansion there]," said Kinga Daradics, chairman
of MOL Romania.
The completed phase of the project provides diesel fuel storage
and sales, addressing the needs of MOL's growing distribution
network in Romania, the company said.
MOL also recently received approval from Bucharest to explore
three blocks in Romania, MOL Hungary's head of exploration and
production, Tamas Szakal, told Hungarian business daily Napi
Gazdasag in an interview earlier.
At 1200 GMT, MOL's shares were down HUF75, or 0.5%, at
HUF16,220.
Write to Veronika Gulyas at veronika.gulyas@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires