MOL Announces Expansion Plans in Northern Italy

Hungarian oil and gas company MOL has announced plans for capacity expansion at its Italian subsidiary Italiana Energia e Servizi’s Mantova refinery, reported MTI-EcoNews.

According to an MOL official, the Hungarian company is also mulling expansion in northern Italy. MOL had acquired Italiana Energia e Servizi (IES) in 2007 and is planning a E200 million development of IES’s Mantova refinery to keep it operating at European standards. Diesel production at the refinery will also be increased to 50% from 40%.

The news source also noted that IES operates around 183 petrol stations of which 40 are company-owned. The IES Mantova refinery reportedly has a processing capacity of 2.6 million tonnes of oil per year (mtpa), accounting for around 3% market share in Italy. MOL plans to increase the overall capacity of the IES refinery to 3mtpa in the next five years.