MOL Romania accounts for 13 pct of Q1 fuel market

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The Romanian-based subsidiary of Hungarian Group MOL sold by 3% more fuel in the first three months of this year than in the same period a year ago, thus pushing up its market share to 13%, show the financial results made public by the Hungarian Group.
 
However, average sales per unit dropped 1% in Q1 as a result of the gradual increase in the turnover at five newly opened petrol stations.
 
MOL operates 122 filling stations in Romania at present, up from 117 at the end of last year; its recently announced strategy says the 2008 investments will amount to 20 million euros. MOL’s main competitors in the Romanian fuel distribution market are Petrom, Rompetrol and Lukoil.
 
The advance posted by MOL’s Romanian sales is in line with the trend announced by the Hungarian company at the end of last week. The Business Standard daily on May 19 quotes the figures made public by MOL as showing the oil and gas group reported net profit at 260.3 million euros (401.6 million dollars) in Q1, a 9% rise on Jan.-March 2007.
 
The positive results exceeded the analysts’ estimations and they were the result of the performance put by the refining and distribution division, by the higher crude prices and the single gains.
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