MOL consolidates capital in Romania

MOL Romania Petroleum Products has increased its share capital by 9.77 million euros, following a cash inflow from its sole shareholder, Hungarian MOL Oil&Gas Group. MOL Romania’s capital therefore rose by more than 397bn ROL from 1,644bn ROL to 2,041bn ROL. The company representatives say the capital increase was done in order to fund the company’s growth on the Romanian market, given that this year’s priority is continuing the expansion of the gas station network. The current share capital is divided into 2.041 million shares (one million ROL in par value each) held by MOL Hungarian Oil&Gas Company in its position as sole shareholder. MOL Romania is currently operating 52 gas stations and will expand to 90 by 2005, according to the group’s development strategy for Central and Eastern Europe. ZF