November 7, 2019 / 7:25 AM / 10 days ago

Hungary's MOL raises profit guidance after oilfield acquisition

BUDAPEST, Nov 7 (Reuters) - Hungarian energy group MOL raised its 2020 profit guidance on Thursday to a range of $2.4-2.6 billion to reflect its acquisition of Chevron’s stake in a giant oilfield in Azerbaijan.

“Normalised clean CCS (current cost of supplies) EBITDA guidance is raised to $2.4-2.6 billion for 2020 to reflect the contribution of the recent acquisition from H2 2020,” MOL said in a stock exchange filing.

“EBITDA is then expected to gradually approach $3 billion by 2023 as all three business segments are to visibly increase their contribution.” (Reporting by Gergely Szakacs; editing by Jason Neely)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below