Bogdan Tudorache

The MOL Group will invest USD 1 billion over the next five years as a result of a new medium-term strategy, Shape Tomorrow, said Camelia Ene, CEO, MOL Romania. The updated strategy of the MOL 2030+ Group “Shape Tomorrow” focuses on reducing CO2 emissions, efficiency and circular economy.

“This new strategy was announced today. MOL Group has launched Shape Tomorrow 2030, which is a new, revised, integrated strategy with a new sustainability strategy. MOL’s vision is to be a key player in the low-carbon circular economy in the region, and we want to be a highly efficient company that provides sustainable raw materials,” said Camelia Ene.

“We will certainly come up with concrete actions to implement this strategy in Romania as well,” she added.

MOL has greatly developed its network, which currently reaches 243 stations. “We have invested a lot in the development of our logistics system, and we currently have two fuel warehouses and an LPG terminal. We have also invested a lot in the development of the electric charging station segment… In view of what is to happen, we can say that this transition will be long and all players will have to adapt and transform. We have already started this,” added Camelia Ene.

MOL will generate sufficient operational cash flow in 2021-25 – with an increase in EBITDA from 2.3 billion USD in 2021 to 2.6 billion by 2025 – to cover planned capital expenditures of at least 3.5 billion USD of strategic CAPEX, including USD 1 billion new investments in the low-carbon circular economy, as well as dividends in a stable amount, the company announced.

Under the new strategy, MOL will reduce its emissions at the group level by 30% by 2030, making both the E&P and the Consumer Services segment carbon neutral. MOL wants to significantly increase its environmentally friendly investments, aligned with the taxonomy of the European Union, which will exceed by 50% the total capital expenditures by 2030 and will approach 100% by 2050 or before this deadline.