BUDAPEST--Hungary's largest firm MOL Nyrt. (MOL.BU) is set to
spend $1 billion in acquisitions with an upstream focus this year,
its chief executive said Thursday.
MOL, a regional oil and gas explorer and refiner, is aiming to
boost its oil and gas production in Iraq's Kurdistan region, in the
North Sea in Europe, as well as in Croatia and Hungary, József
Molnár said at the company's annual general meeting.
MOL expects daily hydrocarbon output at 105,000 to 110,000
barrels in 2015 compared with between 91,000 and 96,000 this year,
Mr. Molnár said, but organic growth and the planned acquisitions
could boost this to 130,000 barrels a day in five years.
At the AGM, the shareholders approved to pay a dividend of 60
billion forints ($269 million) from the firm's 2013 profit.
Dividend per share will rise to HUF590 from HUF462 last year.
Shares in MOL was trading up 0.8% at HUF13,240 late morning on
Thursday.
Write to Veronika Gulyas at veronika.gulyas@wsj.com
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