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Mol Produces Within Guidance in Q1, Works to Offset Production Decline in Certain Areas

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-- Hungary-based Mol Group produced 95,400 barrels of oil equivalent per day during Q1, it said in its Q1 earnings update on Friday, on the lower end of its 2026 guidance of 95,000 to 97,000 boe/d.

Upstream production in Hungary slipped 1,400 boe/d to 35,700 boe/d due to a temporary shutdown as well as natural decline from producing assets.

Production was flat in Croatia at 20,000 boe/d in Q1, due to robust efforts to offset natural decline from assets there. The Balkan country is the second most important for Mol in output terms after Hungary.

Production in Azerbaijan slipped to 13,100 boe/d during the quarter, down from 15,200 a year ago, it said.

The company's sales totaled 1.91 million litres in Q1, up from 1.78 million litres in Q1 2025, Mol said.

Mol said it had tested the Nko-D-2 shallow gas well and had started to produce from it in March, while it was yielding oil after drilling and testing of the Kfa-4ST site. It also completed 8 well 'workovers' in Hungary.

The company said it will soon enter production in Libya through a joint venture with Repsol and TPAO offshore in the Mediterranean Sea.

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