Hungarian oil and gas company MOL Nyrt. (MOL.BU) is concerned
about current low oil prices, its chief executive said.
"What we are most concerned with today is the falling oil
price," Jozsef Molnar said in an interview published on Thursday
with Austrian economic daily Wirtschaftsblatt.
Mr. Molnar added that oil prices won't remain low indefinitely
and will increase to between $80 per barrel and $100 per barrel
within the next 20 years.
In 2015 MOL has planned investments totaling $2.2 billion, Mr.
Molnar said. Of that amount, 60% will be in its upstream business,
mostly in Kurdistan. The company has already invested around $700
million in an oil field development in Kurdistan, he said, adding
that another $500 million is planned over the next two years.
The Hungarian company's business has remained unaffected by the
crisis between Ukraine and Russia. "Up to now there haven't been
any delivery interruptions in either gas or oil," Mr. Molnar
said.
Website: http://wirtschaftsblatt.at
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