Mol had a big win this autumn in the Iranian conflict

MOL Group reported strong financial results for Q3 2026, with EBITDA reaching 554.9 billion HUF, significantly up from 330.3 billion HUF in the same period last year. The net profit also surged to 252.3 billion HUF, driven by favorable refining conditions and higher oil and gas prices. However, regulatory fuel price controls in Central and Eastern Europe negatively impacted results. CEO Zsolt Hernádi highlighted the benefits from their upstream operations across ten countries, despite challenges from government price regulations. The company is also seeking a tax refund from the Hungarian state due to the cancellation of a controversial carbon quota tax. Production increased slightly, aided by growth in fields in Iraq and Kazakhstan, while maintenance in Croatia and Hungary led to a decrease in output in the region. The AV-3 plant resumed operations after a fire incident last year, adding significant refining capacity.