Macro Figures
VARIABLE REFINERY MARGINS
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based on weighted Solomon refinery yields
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relevant international product and crude (Ural) quotations
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contains cost of purchased energy, and CO2
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monthly publication on MOL’s IR site
IMPLIED YIELDS OF REFINERY MARGINS
MOL GROUP PETROCHEMICALS MARGIN
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The MOL Group petrochemicals margin is a variable margin based upon the product yields of MOL Petrochemicals and Slovnaft Petrochemicals.
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As of January 2018 an updated formula for calculating the „MOL Group petrochemicals margin” was introduced, replacing the previous „Integrated petrochemical margin”. The purpose of the new formula is to better reflect the petchem product slate of the group.
The formula is the following:
8.3% ethylene + 16.0% LDPE + 25.5% HDPE + 37.3% PP + 5.3% butadiene + 7.6% benzene – 117.5% naphtha – 12.0 % propylene
2022
| Macro figures* | Jan | Feb | Mar | Apr* | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 87.2 | 98.2 | 118.8 | |||||||||
| MOL Group refinery margin (USD/bbl) original | 1.3 | 5.4 | 34.9 | |||||||||
| MOL Group refinery margin (USD/bbl) updated** | (1.1) | 3.4 | 33.7 | |||||||||
| MOL + Slovnaft refinery margin (USD/bbl) original | 1.7 | 6.0 | 36.0 | |||||||||
| MOL + Slovnaft refinery margin (USD/bbl) updated** | (0.3) | 4.3 | 35.1 | |||||||||
| MOL Group petrochemicals margin (EUR/t) | 563.5 | 463.0 | 436.5 |
| Macro figures | Q1 | Q2 | Q3 | Q4 | FY |
|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 101.4 | ||||
| MOL Group refinery margin (USD/bbl) original | 13.8 | ||||
| MOL Group refinery margin (USD/bbl) updated** | 12.0 | ||||
| MOL + Slovnaft refinery margin (USD/bbl) original | 14.5 | ||||
| MOL + Slovnaft refinery margin (USD/bbl) updated** | 13.1 | ||||
| MOL Group petrochemicals margin (EUR/t) | 487.7 |
* In light of recent market developments the refinery margin is less representative of actual results. The MOL Group refinery margin methodology is under review, accordingly the margin publication was suspended.
** Updated methodology includes purchased energy (enhanced fit to natural gas) and CO2 costs
.
2021
| Macro figures | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 54.8 | 62.2 | 65.6 | 64.7 | 68.8 | 73.0 | 75.0 | 70.8 | 74.6 | 83.7 | 81.4 | 74.1 |
| MOL Group refinery margin (USD/bbl) original | 1.8 | 2.1 | 3.5 | 5.1 | 4.7 | 3.3 | 4.3 | 6.0 | 5.9 | 5.9 | 2.8 | 4.2 |
| MOL Group refinery margin (USD/bbl) updated* | 1.1 | 1.3 | 2.9 | 4.3 | 3.9 | 2.4 | 3.4 | 4.7 | 4.4 | 4.3 | 0.7 | 1.7 |
| MOL + Slovnaft refinery margin (USD/bbl) original | 2.1 | 2.5 | 3.9 | 5.7 | 5.5 | 4.0 | 4.9 | 6.5 | 6.3 | 6.3 | 3.3 | 4.6 |
| MOL + Slovnaft refinery margin (USD/bbl) updated* | 1.5 | 1.7 | 3.3 | 4.9 | 4.6 | 3.1 | 4.0 | 5.3 | 5.0 | 5.0 | 1.6 | 2.4 |
| MOL Group petrochemicals margin (EUR/t) | 506.7 | 624.9 | 873.7 | 1035.8 | 1003.5 | 807.8 | 670.1 | 681.1 | 639.0 | 540.3 | 605.8 | 649.4 |
| Macro figures | Q1 | Q2 | Q3 | Q4 | FY |
|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 60.9 | 68.8 | 73.5 | 79.7 | 70.7 |
| MOL Group refinery margin (USD/bbl) original | 2.5 | 4.4 | 5.4 | 4.3 | 4.1 |
| MOL Group refinery margin (USD/bbl) updated* | 1.8 | 3.5 | 4.2 | 2.3 | 2.9 |
| MOL + Slovnaft refinery margin (USD/bbl) original | 2.9 | 5.0 | 5.9 | 4.7 | 4.6 |
| MOL + Slovnaft refinery margin (USD/bbl) updated* | 2.2 | 4.2 | 4.8 | 3.0 | 3.5 |
| MOL Group petrochemicals margin (EUR/t) | 668.5 | 949.1 | 663.4 | 598.5 | 719.9 |
*Updated methodology includes purchased energy (enhanced fit to natural gas) and CO2 costs
2020
| Macro figures | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 63.5 | 55.4 | 31.8 | 18.5 | 29.0 | 40.1 | 43.4 | 44.8 | 40.8 | 40.2 | 42.7 | 49.9 |
| MOL Group refinery margin (USD/bbl) | 4.8 | 4.8 | 9.3 | 9.1 | 0.4 | (1.3) | 0.9 | 0.9 | 1.1 | 1.8 | 0.8 | 1.3 |
| MOL + Slovnaft refinery margin (USD/bbl) | 5.6 | 5.4 | 9.8 | 9.8 | 0.7 | (1.0) | 1.2 | 1.2 | 1.4 | 2.1 | 1.1 | 1.6 |
| MOL Group petrochemicals margin (EUR/t) | 269.0 | 335.5 | 546.5 | 577.4 | 402.2 | 312.5 | 314.3 | 337.5 | 357.5 | 340.9 | 386.8 | 431.8 |
| Macro figures | Q1 | Q2 | Q3 | Q4 | FY |
|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 50.3 | 29.2 | 43.0 | 44.2 | 41.7 |
| MOL Group refinery margin (USD/bbl) | 6.3 | 2.7 | 1.0 | 1.3 | 2.8 |
| MOL + Slovnaft refinery margin (USD/bbl) | 6.9 | 3.2 | 1.3 | 1.6 | 3.2 |
| MOL Group petrochemicals margin (EUR/t) | 383.7 | 430.7 | 336.5 | 386.5 | 384.3 |
2019
| Macro figures | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 59.5 | 64.0 | 66.1 | 71.3 | 71.1 | 64.1 | 64.0 | 59.0 | 62.8 | 59.7 | 63.0 | 67.0 |
| MOL Group refinery margin (USD/bbl) | 2.2 | 3.0 | 4.2 | 2.9 | 3.6 | 4.1 | 5.9 | 5.4 | 5.8 | 7.2 | 2.9 | 2.9 |
| MOL + Slovnaft refinery margin (USD/bbl) | 2.9 | 3.6 | 4.8 | 3.7 | 4.7 | 5.0 | 6.7 | 6.5 | 6.9 | 8.4 | 4.2 | 4.3 |
| MOL Group petrochemicals margin (EUR/t) | 457.2 | 400.8 | 387.5 | 388.2 | 414.7 | 462.7 | 371.7 | 401.7 | 336.6 | 326.3 | 264.6 | 250.9 |
| Macro figures | Q1 | Q2 | Q3 | Q4 | FY |
|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 63.2 | 68.8 | 61.9 | 63.3 | 64.3 |
| MOL Group refinery margin (USD/bbl) | 3.1 | 3.5 | 5.7 | 4.3 | 4.2 |
| MOL + Slovnaft refinery margin (USD/bbl) | 3.8 | 4.5 | 6.7 | 5.6 | 5.1 |
| MOL Group petrochemicals margin (EUR/t) | 415.2 | 421.8 | 370.0 | 280.6 | 371.9 |
2018
| Macro figures | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 69,2 | 65.2 | 65.9 | 71.8 | 76.9 | 74.3 | 74.3 | 72.6 | 78.9 | 81.2 | 64.7 | 57.4 |
| MOL Group refinery margin (USD/bbl) | 4,2 | 5.7 | 6.1 | 5.8 | 5.4 | 5.3 | 6.0 | 7.5 | 3.8 | 3.8 | 6.6 | 4.3 |
| MOL + Slovnaft refinery margin (USD/bbl) | 5.0 | 6.4 | 7.0 | 6.9 | 6.4 | 6.2 | 6.8 | 8.4 | 4.8 | 4.7 | 7.5 | 5.3 |
| NEW MOL Group petrochemicals margin (EUR/t) | 407.8 | 471.0 | 435.5 | 384.3 | 318.0 | 401.4 | 389.2 | 366.6 | 331.1 | 330.9 | 477.9 | 478.5 |
| OLD Integrated petrochemical margin (EUR/t) | 422.0 | 494.3 | 451.6 | 395.9 | 325.1 | 406.2 | 393.7 | 376.5 | 337.3 | 338.9 | 501.6 | 522.1 |
| Macro figures | Q1 | Q2 | Q3 | Q4 | FY |
|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 66.8 | 74.4 | 75.3 | 67.8 | 71.0 |
| MOL Group refinery margin (USD/bbl) | 5.3 | 5.5 | 5.8 | 4.9 | 5.4 |
| MOL + Slovnaft refinery margin (USD/bbl) | 6.2 | 6.5 | 6.7 | 5.8 | 6.3 |
| NEW MOL Group petrochemicals margin (EUR/t) | 438.1 | 367.8 | 362.3 | 429.1 | 399.2 |
| OLD Integrated petrochemical margin (EUR/t) | 456.0 | 375.6 | 369.2 | 454.2 | 413.8 |
2017
| Macro figures | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 54.7 | 55.1 | 51.6 | 52.5 | 50.4 | 46.5 | 48.6 | 51.6 | 56.0 | 57.4 | 62.6 | 64.2 |
| MOL Group refinery margin (USD/bbl) | 6.3 | 7.0 | 6.3 | 6.8 | 6.1 | 6.2 | 6.5 | 7.0 | 8.6 | 6.9 | 5.8 | 4.4 |
| MOL + Slovnaft refinery margin (USD/bbl) | 6.7 | 7.5 | 6.8 | 7.6 | 6.7 | 6.8 | 7.0 | 7.6 | 9.4 | 7.7 | 6.4 | 5.1 |
| NEW MOL Group petrochemicals margin (EUR/t) | 451.6 | 529.4 | 630.4 | 592.9 | 601.6 | 563.9 | 494.7 | 467.4 | 467.2 | 466.5 | 385.7 | 394.5 |
| OLD Integrated petrochemical margin (EUR/t) | 483.1 | 523.8 | 610.9 | 582.8 | 601.2 | 567.6 | 511.6 | 490.6 | 493.0 | 484.2 | 399.7 | 400.8 |
| Macro figures | Q1 | Q2 | Q3 | Q4 | FY |
|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 53.8 | 49.8 | 52.1 | 61.4 | 54.3 |
| MOL Group refinery margin (USD/bbl) | 6.5 | 6.4 | 7.3 | 5.7 | 6.5 |
| MOL + Slovnaft refinery margin (USD/bbl) | 7.0 | 7.0 | 8.0 | 6.4 | 7.1 |
| NEW MOL Group petrochemicals margin (EUR/t) | 537.1 | 586.1 | 476.5 | 415.6 | 503.8 |
| OLD Integrated petrochemical margin (EUR/t) | 539.3 | 583.8 | 498.4 | 428.2 | 512.4 |
2016
| Macro figures | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 30,7 | 32.5 | 38,5 | 41.5 | 46.9 | 48.3 | 45.1 | 45.8 | 46.7 | 49.7 | 45.1 | 53.6 |
| MOL Group refinery margin (USD/bbl) | 7,1 | 5.0 | 5,2 | 5.8 | 5.5 | 5.7 | 4.0 | 4.4 | 5.8 | 7.1 | 7.2 | 5.4 |
| MOL + Slovnaft refinery margin (USD/bbl) | 7,6 | 5.4 | 5,8 | 6.6 | 6.2 | 6.5 | 4.6 | 4.9 | 6.3 | 7,7 | 7.7 | 5.9 |
| NEW MOL Group petrochemicals margin (EUR/t) | 665.5 | 602.4 | 556.6 | 608.9 | 577.9 | 530.9 | 519.4 | 545.3 | 535.2 | 466.1 | 483.9 | 428.5 |
| OLD Integrated petrochemical margin (EUR/t) | 761.8 | 692.7 | 650.4 | 702.6 | 662.3 | 605.2 | 578.1 | 599.0 | 593.4 | 514.4 | 528.2 | 471.4 |
| Macro figures | Q1 | Q2 | Q3 | Q4 | FY |
|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 33.9 | 45.6 | 45.8 | 49.5 | 43.7 |
| MOL Group refinery margin (USD/bbl) | 5.8 | 5.7 | 4.7 | 6.6 | 5.7 |
| MOL + Slovnaft refinery margin (USD/bbl) | 6.3 | 6.4 | 5.3 | 7.1 | 6.3 |
| NEW MOL Group petrochemicals margin (EUR/t) | 608.2 | 572.6 | 533.3 | 459.5 | 543.4 |
| OLD Integrated petrochemical margin (EUR/t) | 701.6 | 656.7 | 590.2 | 504.6 | 613.3 |
2015
| Macro figures | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 47.9 | 58.1 | 55.9 | 59.8 | 64.3 | 61.7 | 56.5 | 46.6 | 47.6 | 48.6 | 44.3 | 38.2 |
| MOL Group refinery margin (USD/bbl) | 6.1 | 4.8 | 7.7 | 6.2 | 6.2 | 7.4 | 7.0 | 8.2 | 5.3 | 3.5 | 6.7 | 4.5 |
| MOL + Slovnaft refinery margin (USD/bbl) | 7.1 | 6.0 | 8.8 | 7.3 | 7.4 | 8.6 | 8.2 | 9.4 | 6.5 | 4.5 | 7.8 | 5.4 |
| MOL Integrated Petchem Margin (EUR/t) | 542.7 | 441.3 | 547.9 | 692.5 | 780.0 | 808.5 | 798.5 | 774.3 | 668.7 | 642.6 | 695.3 | 763.5 |
| Macro figures | Q1 | Q2 | Q3 | Q4 | FY |
|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 54.0 | 61.9 | 50.3 | 43.7 | 52.5 |
| MOL Group refinery margin (USD/bbl) | 6.2 | 6.6 | 6.8 | 4.9 | 6.1 |
| MOL + Slovnaft refinery margin (USD/bbl) | 7.3 | 7.8 | 8.0 | 5.9 | 7.3 |
| MOL Integrated Petchem Margin (EUR/t) | 510.6 | 760.3 | 747.2 | 700.5 | 679.7 |
2014
| Macro figures | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 108.3 | 108.9 | 107.6 | 107.6 | 109.6 | 111.7 | 106.6 | 101.6 | 97.3 | 87.4 | 78.9 | 62.5 |
| MOL Group refinery margin (USD/bbl) | 1,8 | 2.0 | 1,6 | 3.8 | 1.8 | 2.2 | 4.3 | 4.2 | 5.5 | 4.6 | 4.9 | 4.2 |
| MOL + Slovnaft refinery margin (USD/bbl) | 2,9 | 3,3 | 2,8 | 5,2 | 3,2 | 3,6 | 5,5 | 5,3 | 6,8 | 5,6 | 5,9 | 5.0 |
| MOL Integrated Petchem Margin (EUR/t) | 314.6 | 281.5 | 300.7 | 293.3 | 289.5 | 290.3 | 322.5 | 356.8 | 317.9 | 446.1 | 498.5 | 598.4 |
| Macro figures | Q1 | Q2 | Q3 | Q4 | FY |
|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 108.3 | 109.6 | 101.8 | 76.3 | 98.9 |
| MOL Group refinery margin (USD/bbl) | 1.8 | 2.6 | 4.7 | 4.6 | 3.4 |
| MOL + Slovnaft refinery margin (USD/bbl) | 3.0 | 4.0 | 5.8 | 5.5 | 4.6 |
| MOL Integrated Petchem Margin (EUR/t) | 299.0 | 291.1 | 332.4 | 514.3 | 359.2 |
2013
| Macro figures | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 113.0 | 116.2 | 108.4 | 101.9 | 102.4 | 102.9 | 108.0 | 111.3 | 111.9 | 109.1 | 108.0 | 110.8 |
| MOL Group refinery margin (USD/bbl) | 2.4 | 5.0 | 4.4 | 3.4 | 1.8 | 2.8 | 1.0 | 1.1 | 1.3 | 1.5 | 1.1 | 1.6 |
| MOL + Slovnaft refinery margin (USD/bbl) | 3.4 | 6.3 | 5.6 | 4.6 | 3.0 | 3.8 | 2.1 | 2.2 | 2.5 | 2.7 | 2.3 | 2.7 |
| MOL Integrated Petchem Margin (EUR/t) | 329.9 | 246.2 | 291.3 | 320.5 | 285.1 | 333.5 | 292.1 | 309.5 | 305.9 | 285.8 | 259.4 | 274.1 |
| Macro figures | Q1 | Q2 | Q3 | Q4 | FY |
|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 112.5 | 102.4 | 110.4 | 109.3 | 108.7 |
| MOL Group refinery margin (USD/bbl) | 3.9 | 2.7 | 1.1 | 1.4 | 2.3 |
| MOL + Slovnaft refinery margin (USD/bbl) | 5.1 | 3.8 | 2.3 | 2.5 | 3.4 |
| MOL Integrated Petchem Margin (EUR/t) | 289.1 | 313.0 | 302.5 | 273.1 | 294.4 |
2012
| Macro figures | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 110.6 | 119.6 | 125.3 | 119.5 | 110.2 | 94.8 | 102.6 | 113.4 | 112.9 | 111.6 | 109.1 | 109.4 |
| MOL Group refinery margin (USD/bbl) | 3.0 | 0.9 | 2.9 | 6.5 | 3.5 | 7.0 | 4.0 | 3.8 | 9.0 | 7.5 | 4.7 | 3.1 |
| MOL + Slovnaft refinery margin (USD/bbl) | 4.1 | 2.0 | 4.0 | 7.7 | 4.7 | 8.2 | 5.2 | 5.0 | 10.5 | 8.9 | 6.0 | 4.2 |
| MOL Integrated Petchem Margin (EUR/t) | 98.3 | 178.0 | 230.0 | 274.2 | 303.8 | 258.3 | 180.2 | 230.5 | 325.2 | 275.8 | 229.2 | 293.0 |
| Macro figures | Q1 | Q2 | Q3 | Q4 | FY |
|---|---|---|---|---|---|
| Brent dated (USD/bbl) | 118.5 | 108.2 | 109.6 | 110.0 | 111.6 |
| MOL Group refinery margin (USD/bbl) | 2.2 | 5.7 | 5.6 | 5.1 | 4.7 |
| MOL + Slovnaft refinery margin (USD/bbl) | 3.4 | 6.9 | 6.9 | 6.3 | 5.9 |
| MOL Integrated Petchem Margin (EUR/t) | 168.8 | 278.8 | 245.3 | 266.0 | 239.7 |