MOL to Boost Earnings by 2012

28 February 2010 (Last Updated February 28th, 2010 18:30)

Hungarian oil and gas group MOL has announced that it is aiming for EBITDA of $4.1bn by 2012 and aims to boost the value of its upstream assets. MOL said in a statement that signs of a slow recovery were already visible after difficult conditions in late 2008 and 2009. "MOL i

Hungarian oil and gas group MOL has announced that it is aiming for EBITDA of $4.1bn by 2012 and aims to boost the value of its upstream assets.

MOL said in a statement that signs of a slow recovery were already visible after difficult conditions in late 2008 and 2009.

"MOL is committed to keep its strong financial position and finance fully its CAPEX from the operating cash flow of the Group during the period 2010-12," the company said.

MOL has a capital expenditure plan of $6.2bn for 2010 to 2012, reports Reuters.