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Oct 06, 2020 12:59 EEST
October 6 (SeeNews) - The Romanian unit of Hungarian oil and gas group MOL said on Tuesday it invested some $200 million (170 million euro) in operations in Romania in the last 25 years.
Investments were mainly directed towards organic growth, retail network upgrades and improvement of the logistics system, MOL Romania said in a press release.
"MOL Romania has grown in the last 25 years together with the Romanian economy and contributed to its development," MOL Romania CEO and country manager Camelia Ene said.
MOL Romania's medium- and long-term development strategy is focused on three main pillars, in line with the strategy of its parent group: digitalization, development and diversification, the company said.
MOL Romania also plans to further develop its logistics system and network of stations nationwide, while diversifying the products and services in its portfolio.
"Operations on the Romanian market are a very important pillar for the MOL Group, because we still see opportunities for development and growth here," MOL Group consumer services executive vice president Peter Ratatics said.
MOL entered the Romanian market in 1995 and currently operates a network of 234 service stations, two fuel depots in Giurgiu and Tileagd, an LPG terminal in Tileagd, two divisions of lubricants and petrochemicals as well as an extensive portfolio of products and services dedicated to individuals and companies.
MOL Romania directly employs over 250 people in administrative offices, while over 2,700 people work in service stations across the country.
Starting with 2018, MOL Romania is part of the NEXT-E project which aims to install 40 charging stations for electric vehicles in Romania.
MOL Group is an integrated, independent, international oil and gas company, headquartered in Budapest, with operations in over 40 countries and about 25,000 employees worldwide.
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