Macro Figures

Variable refinery margins

  • based on weighted Solomon refinery yields
  • relevant international product and crude (Ural) quotations
  • contains cost of purchased energy
  • monthly publication on MOL’s IR site

Implied yields of refinery margins

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  • Gases and chemicals
  • Motor gasoline
  • Naphtha
  • Middle destillate
  • Black prod and VGO
  • Own cons and loss

MOL GROUP PETROCHEMICALS MARGIN

  • The MOL Group petrochemicals margin is a variable margin based upon the product yields of MOL Petrochemicals and Slovnaft Petrochemicals.
  • 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
Macro figures Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Brent dated (USD/bbl) 69.2  65.2  65.9                  
MOL Group refinery margin (USD/bbl) 4.2  5.7  6.1                  
MOL + Slovnaft refinery margin (USD/bbl) 5.0  6.4  7.0                  
NEW MOL Group petrochemicals margin (EUR/t) 407.8  471.0  435.5                  
OLD Integrated petrochemical margin (EUR/t) 422.0  494.3  451.6                  
Macro figures Q1 Q2 Q3 Q4 FY
Brent dated (USD/bbl)  66.8        
MOL Group refinery margin (USD/bbl)  5.3        
MOL + Slovnaft refinery margin (USD/bbl)  6.1        
NEW MOL Group petrochemicals margin (EUR/t)  438.1        
OLD Integrated petrochemical margin (EUR/t)  456.0        
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
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
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
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
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
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