Hungarian integrated oil firm Mol has had to reshape its upstream operations in light of the 2014 oil price crash.

Upstream Executive Vice-President Dr Berislav Gaso tells MEES how it has slashed production costs and that despite setbacks, Mol still sees the Middle East as important.

Hungary’s Mol swung from a $903mn loss in 2015 to a $941mn profit last year thanks to a series of cost cutting measures that boosted the firm’s efficiency. Despite oil prices averaging around 15%...