MOL Group transforms the Mantova refinery into product logistics hub

Hungary’s MOL Group announced a plan to transform its Mantova, Italy, refinery into a product logistics hub, a project slated to begin in January 2014.
This is a clear sign of MOL’s commitment to invest in solutions which improve its competitive position in Italy, despite the tough economic environment there.
After studying the long-term sustainability of the Mantova unit in light of the unfavorable economic environment that the refining business faces in Italy, the MOL Group decided to convert the refinery into a product logistics hub.
Also, the long-term agreement on crude oil logistics for the Mantova refinery is expiring, so MOL reached a principal agreement with Italy-based ENI to connect its transformation project with ENI’s green refinery initiative. The complex logistics network connecting Porto Marghera and the Mantova refinery, until now used for crude oil supply, will instead be used for the supply of end-products in the future.
This enables MOL Group to make the Mantova refinery alteration, which means that the company will remain in the business with a Mantova-based entity. This transformation also means IES (Italiana Energia Servizi) will be able to keep a reasonable number of employees who will operate the new business on the Mantova site.
IES is committed to closely work with all its stakeholders on this project; to find the best solutions for people, the environment, the local economy, and the community; and to keep the company in a position where it can be a relevant market player, a safe employer, and a fair partner in the future. The company is also willing to have a constructive dialogue with trade unions in order to find the best possible solution for all parties involved. IES remains a reliable partner with regard to its sponsoring and donation programs in the region and intends to carry on its support activities towards the Mantova community in the future.
MOL Group is an integrated, independent, international oil and gas company, headquartered in Budapest, Hungary. It has operations in more than 40 countries and employs around 30,000 people worldwide. The group operates five refineries and two petrochemical units under integrated supply chain management in Hungary, Slovakia, Croatia and Italy. MOL Group also owns a network of more than 1,700 filling stations in central and southeastern Europe across 11 countries.
(October 8, 2013)