Press Releases

• SLOVNAFT, a.s. noticed an increased amount of fake trade name advertising
• fraudulent activities on behalf of Slovnaft appear mainly on social media, but also as videos or phone calls
• SLOVNAFT, a.s. distances itself from this unethical and fraudulent conduct and calls on the public
  to be cautious

SLOVNAFT, a.s. has recently noticed a significant increase in fraudulent activities that misuse the company's trade name, its brand or the names and photographs of the company's management. Slovnaft warns the public to approach information in the public space critically and not to respond to suspicious offers.

In recent weeks, we have had a number of alerts about fraudulent activity being presented on our behalf. These are mostly sponsored posts on social media, which urge people to invest in the company and to buy Slovnaft shares on the stock exchange, with the promise of high profits. There are several websites on the internet that have been set up to obtain people's personal data and which can be misused. Besides fraudulent activity on the social media, especially on Facebook and Instagram, videos on YouTube and suspicious phone calls occurred this week too. In the case of telephone calls, callers put time pressure on the recipient of the call, possibly threatening sanctions if he or she does not respond to the offer.

"Slovnaft strongly distances itself from these unethical fraudulent activities. We urge the public to be cautious and to draw information about Slovnaft exclusively from the company's official website www.slovnaft.sk and official profiles on social networks," explains Anton Molnár, Spokesperson and Head of Communications of SLOVNAFT, a.s.

On Thursday, October 19, in the early afternoon, the electricity supply to the Slovnaft refinery was cut off, as a result of which the entire production process was gradually shut down. Shutting down of  production units is always accompanied by the burning of raw material on flares, and an increased level of noise and odour depending on the weather conditions. These processes were controlled and safe.

After the restoration of electricity supplies, the gradual start-up of production units began, which will last several days. In the following days, the public may therefore repeatedly notice effects such as controlled burning on field burners, increased noise or odour. All start-up work is controlled.

The reasons for the failure of the electricity supply to the refinery are the subject of further investigation. We apologize to the residents from surrounding area of the refinery for the temporary reduction in comfort. Despite the burning on the flares and the subsequent, according to the measurements at our monitoring stations, the limit values of pollutants in the air were not exceeded. The emission values from Slovnaft air monitoring stations can be examined by the general public at official website of Slovak Hydrometeorological Institute in the air quality services section. Information is also publicly available via the Sused Slovnaft application.

At the same time, we would like to thank all colleagues at the production units and related operations, as well as the factory fire department for the excellent handling of the emergency, in which there were no injuries. We thank the representatives of the surrounding districts and municipalities for their flexible cooperation in informing the public.

• Slovnaft launches new ethylene storage tank
• regular turnarounds of the production unit in the petrochemical part of the refinery and flaring will be gradually halved by the end of the year
• total CO₂ savings will reach 2558 tonnes per year
• the construction of the new storage tank cost almost 70 million euros

Bratislava, October 16, 2023 – Slovnaft has launched a new ethylene storage tank. The investment of almost EUR 70 million will reduce the need for regular shutdown of the LDPE4 polyethylene production unit by half. This will reduce the volume of CO₂ emissions and electricity consumption, and residents in the surroundings of refinery will notice a reduction in regular flaring,  i.e. burning on flares which is an essential part of production units shutting down. Besides the light effect, the flaring is usually accompanied by an increased noise level.

„While until now we needed to shut down the production unit in the petrochemical part of the refinery (LDPE4) an average of 24 times a year due to the raw material balance, by increasing the storage capacity of ethylene, which is the basic raw material for the production of polyethylene, the need to shut down LDPE4 will gradually decrease to 12 times a year by the end of the year,“ explains Ondrej Zákutný, head of Investments at Slovnaft, noting that flaring, i. e. burning of raw material on flare stacks, is an important safety feature when shutting down petrochemical production units.

The new ethylene storage tank is designed for the storage of liquefied ethylene. The non-pressurised double-walled cylindrical vessel with an outer diameter of 30 metres and a height of 26.7 metres can hold 6,000 tonnes (10,000 m3) of liquid ethylene. It is stored there at a temperature of -103 °C and an overpressure of 8 kPa(g).

„The new ethylene storage tank will allow for smoother operation of LDPE4, while reducing the risk of forced shutdown of the Ethylene Unit where ethylene is produced. The total CO₂  savings amount to 2558 tonnes per year,“ says O. Zákutný.

The BAT (Best Available Technology) principle was used in the construction of the ethylene storage tank. The main contractor was OT Industries, which, like Slovnaft, belongs to the MOL Group. The storage tank itself was made by the renowned Italian company Paresa, the compressor packages were supplied by Howden ČKD, NEAD and Aerzen. Two cryogenic submersible pumps from the American company Ebara are installed in the tank and the evaporation of ethylene is carried out by an exchanger from Linde. Two unique operations were also part of the construction.

„The roof of the storage tank was built inside and then was pushed on top of it by air. The roof itself weighs more than 100 tonnes and its construction, as well as the shell itself, was manufactured with millimetre precision in order to realise this lift,“ explains O. Zákutný.

Another exceptional operation was the drilling and plugging of a DN1000 diameter exhaust pipe at a 45-degree angle using the T.D. Williamson method. Such a specific connection method has never been implemented anywhere in the world before and was specially developed for Slovnaft by SEPS.

A video of the construction of the new ethylene storage tank, which will improve the operation of two production units, can be viewed here: 

The ethylene storage tank construction milestones

• September 2016 – investment approval
• August 2017 – contract signing
• July 2018 – start of implementation
• July 2022 – mechanical completeness, delivery of the work from the contractor
• July 2022 – October 2023 – test operation – testing , adjusting and putting the unit into test run
• October 2023 – set date for switchover to permanent operation

Ethylene storage tank in numbers

• Total investment: EUR 68.81 million
• Outside diameter: 30 m
• Height of the storage tank up to the roof dome (without reinforced concrete base): 26.7 m
• Operating capacity of ethylene: 6000 tons (10 000 m3)
• Storage temperature: -103 °C
• CO2 savings: 2558 tonnes per year

The periodic table of elements scrabble and Trixi the Spy attracted
dozens of children to the Refinery Gallery

• almost two hundred pupils enjoyed fun with chemistry and history at the end of the school year in the design factory Slovnaft College
• cooperation with schools is part of Slovnaft's complex education support strategy
• besides to children and youth, Slovnaft also supports teachers

Bratislava, June 26, 2023 – To come closer to chemistry, refinery, but also physics, mathematics, history or architecture. At the end of the school year, almost 200 pupils from Bratislava primary schools had the opportunity to approach the world of science and technology at the design factory Slovnaft College event in the Refinery Gallery – the former brownfield area, refurbished and now used as an event place. To help children discover their talents, develop and gain knowledge, skills and self-confidence, Slovnaft works closely with schools and supports many activities for pupils and students.

The programme of the design factory Slovnaft College consisted of refinery bingo or scrabble for children to create words from chemical symbols, measure the pH and managing a refinery column, or playing Trixi the Spy, who played a key role in the bombing of the former Bratislava Apollo refinery. It was prepared by the civic association design factory, which has long been researching industrial architecture and its conversions, i.e. changing the purpose for which it is used. "By managing the Refinery Gallery building, a former production hall that now serves a different purpose than its original one, we decided to introduce children to the historical context. At the same time, we present the work of architects, designers, but also the world of preparing cultural events that currently fill this space," says Ivica Horáková, Event manager of the design factory.  The programme also included tasks, games and competitions in the field of chemistry and industrial digital applications prepared for children by Slovnaft employees. Watch and experience the atmosphere of the event in a short video: design factory Slovnaft College.

Cooperation with the design factory is part of Slovnaft's complex strategy to support schools, education and development of children and youth. "At Slovnaft, we believe that chemistry is anything but boring. If it has a spark and is taught with passion, it can already attract children in schools. In addition, through understanding the processes in a refinery, children learn a realistic understanding of a technology that humanity has developed and reached a certain evolutionary stage thanks to it. This knowledge allows them to better understand the complexity of issues such as energy availability, the earth, the climate, humanity, quality of life and how all these topics are interrelated and need to be seen in their entirety," explains Anton Molnár, the company's Spokesperson. Activities and support stretch across the whole school system – from primary to secondary and higher education. For more than 10 years, the Crime Chemistry and Mini-Chemistry competitions have been opening up the adventurous horizons of chemistry to schoolchildren, based on crime-solving through chemical experiments. The participation of more than 100 schools in the last round of the Crime Chemistry is a testimony to its success. Behind the acronym ME-PO-TE there are inter-school comparative tests. They reveal the structure of substances to young chemists and teach them the secrets of analytical chemistry. A new addition to school competitions is the Periodic Table of Nature, which seeks to answer the question of what components and chemical elements make up the nature around us. Participating schools will be given a small but well-equipped laboratory for their experiments, as well as equipment and water and soil samples.

Slovnaft also works with teachers. It is often on their shoulders where the responsibility of transferring their enthusiasm for their subject to the children lies. This year, almost a hundred chemistry teachers from various Slovak schools came to a seminar where they could delve deeper into the topics of the oil industry, ESG, the environment and the practical application of science graduates.

In addition to playful activities, Slovnaft develops cooperation with school youth and secondary schools by offering professional training and dual education. Pupils of chemical and technical high schools can practice directly at the refinery. The company also has a long-term cooperation with universities, where some of Slovnaft employees also lecture. Young people can receive up to 1,000 euros for their thesis on Slovnaft if they succeed in the competition Najdiplomovka (The Best Thesis), and the faculty that entered the thesis in the competition will also receive support.

About SLOVNAFT Group

SLOVNAFT Group is an integrated refining and petrochemical group. The key company of the Group is SLOVNAFT, a.s., which is mainly engaged in the processing of crude oil in one of the most complex European refineries and in the wholesale and retail sale of fuels. Slovnaft operates the largest network of petrol stations in the Slovak Republic. The company is one of Slovakia's leaders in CSR and corporate philanthropy, and significantly supports sports, culture, education, youth and environmental revitalisation. Forbes magazine ranked Slovnaft among the most valuable Slovak brands. SLOVNAFT Group is a member of the international MOL Group.

Contact for media:

Anton Molnár

Spokesperson and Head of Communications

tel: +421 905 393 161

e-mail: anton.molnar@slovnaft.sk

• SLOVNAFT, a.s. continues to support the Slovak national volleyball team in 2023 as the main advertising partner
• together with handball and football, volleyball is the next team sport, which can be successful at international events thanks to the support of Slovnaft
• women's national volleyball team will compete at the European Championships in mid-August

Bratislava, June 8th, 2023 – The Slovak national volleyball team has an important ally in 2023 – SLOVNAFT, a.s. as the main advertising partner. The strong Slovak brand and market leader in fuels supports Slovak volleyball in an important year in which the women's national team will compete in the prestigious EuroVolley 2023 European Championship. Representatives of both partners believe that the cooperation will have a positive impact on the performance of the national teams.

Both Slovak national teams have already played their matches in the European Golden League on the opponents' fields this year and from Saturday, June 10th to June 17th they will play a total of five home matches in Nitra. In mid-August, the women's "season" will culminate with the EuroVolley 2023 European Championships, which the women's team qualified for last year by winning its group. It will be the sixth time that the Slovak women will participate in the European Championships, the third time in a row. Luck also favoured them in the draw, which selected Group D with opponents from Finland, Spain, Estonia, France and the Netherlands. The matches will be broadcasted live on local TV Joj Sport.

The public already knows the broader women's nomination roster for the championship season. Head coach Michal Mašek is again counting on traditionally strong experienced players, such as Karin Palgutová, the current holder of the Volleyball Player of the Year award, Mária Žernovič and Barbara Koseková. The team has been rejuvenated in the European Golden League and young players have also been given the opportunity. The 33rd EuroVolley 2023 European Championships is taking place in four countries – Belgium, Italy, Germany and Estonia – from August 15th to September 3rd.

„It is extremely important and rare nowadays if you enter into a partnership that does not last only one season. In 2022, we started cooperation with Slovnaft, which has become a proud main partner of both senior national teams. In the first year of our cooperation, we qualified the women's national team for the final tournament of the 2023 European Championships and we are very pleased that we will continue our partnership thanks to this result. The Slovak Volleyball Federation has found a strong and strategic partner in Slovnaft, as a result our national teams can move forward thanks to the created conditions. We are grateful for the partnership of the Slovak national volleyball team with the refinery brand, which is a major supporter of the sport in Slovakia," said Marek Rojko, President of the Slovak Volleyball Federation.

Slovak sports have a long-term supporter in SLOVNAFT. Football, handball and motor sport were joined by volleyball last year. "The sporting enthusiasm, the unbreakability and the energy with which the national teams enter the matches are a great inspiration for us. We see Slovak athletes as important role models for young people.  These are also the reasons why we like to lend a helping hand to Slovak sports. We are glad that the cooperation with the Slovak Volleyball Federation continues and we can further build on it. Both of our teams are performing solidly representing Slovakia at important events. Last year's success of our volleyball players in the qualifying matches for EuroVolley 2023 was followed with excitement. We are looking to the future with high hopes and we are keeping our fingers crossed for the Slovaks at the European Championship," said Anton Molnár, Spokesperson and Head of Communications

of SLOVNAFT, a.s.

#SpoluDokazemeVela

• the cycle of planned turnarounds in 2023 starts in the second half of April with the shutdown of the gasoline, sulphur and polypropylene technologies
• about 250 external staff will be involved in planned turnarounds along with internal employees
• full production is expected in the first half of May 2023

Bratislava, 14th April 2023 – With the gradual shutdown of nine production units, the spring part of the planned turnarounds at the Slovnaft refinery will start on 17th April 2023. This represents a fifth of all production assets. Cleaning, maintenance and minor investments relate to technologies primarily focused on the production of gasoline. Customers will not be affected by the planned turnarounds.

Among the units, included in the spring turnarounds, are two key fuel technologies – RHC (Residual Hydrocracking) and hydrogen production of the Hydrokrak complex. Along with them, the sulphur production technology and other operations in the refinery section will be shut down. In the petrochemical part, the Polypropylene 3 production unit (PP3) is included in the calendar of planned spring turnarounds.

„The purpose of the turnarounds is checks and inspections required by legislation, cleaning of equipment and smaller investment projects covering the installation of new control valves and replacement of equipment at the end of its life,“ explains Martin Bičan, Manager of Planned Turnarounds at Slovnaft.

The implementation phase of the planned spring turnarounds will be executed by the Slovnaft subsidiary Slovnaft Montáže a opravy, which has specialists and equipment for the specific requirements of the refinery. In addition to the internal employees of the SLOVNAFT Group, about 250 employees of specialised external companies will participate in the turnarounds.

Safety is a priority for planned turnarounds. Slovnaft has been organising safety trainings for its own employees and suppliers since March. The trainings are aimed at refreshing basic safety rules and process safety management. Lessons from specific events from previous turnarounds were also used in their preparation. Waste management is also part of the training.

During the turnarounds, maintenance and start-up of the technologies, especially during the first three days, residents in the vicinity of the refinery may register accompanying phenomena - odour during the opening and steaming of the equipment and slight burning on the field burners. Slovnaft informs about the impact of the works on the comfort of the inhabitants in the application  Sused Slovnaft. The data is regularly updated. Even during the planned turnarounds, Slovnaft's priority is to minimize negative impacts on the surrounding town districts and villages. After maintenance, the production units should go into full operation in the first half of May. Slovnaft plans to shut down three more production units this autumn.

• More than 300,000 customers have registered for the Slovnaft Move app-based programme since February
• The unique digital program is the most convenient way to use the mobile app, a key feature is the enrichment of the essential functionality of collecting points and redeeming benefits
• The customer program is based on four loyalty levels, the higher the level, the greater the benefits for members

Bratislava, 31st March 2023 - Slovnaft, the operator of the largest network of filling stations in Slovakia, has introduced a new customer programme Slovnaft Move, which is fully tailored to the needs and expectations of customers. It enables an individual approach through tailor-made offers according to preferences. In four loyalty levels, Slovnaft Move rewards customers with discounts on motor fuels or refreshments and other special benefits. More than 300,000 customers have already signed up for the programme since the app was launched in February.

"We strive to bring our customers new and better solutions that will allow them to use our goods and services even more advantageously. Instead of a one-off exchange of points for goods, Slovnaft Move opens up the possibility to use the benefits throughout the year. Loyalty plastic cards are a thing of the past, the world is becoming increasingly digital. We are responding to this and offering our customers a completely new user experience. The benefits have simply moved to smartphones. We believe that the Slovnaft Move programme, which can save the average driver tens of euros a year, will attract both existing and new customers," says Timea Reicher, Slovnaft's Retail Director.

To register for the programme, download the Slovnaft Move app from the Apple Store or Google Play and visit the slovnaftmove.sk website. When registering via the app, customers will immediately receive 50 points and can also choose a welcome gift. From the moment members join, they are rewarded with points, discounts, surprises and other rewards. Former BONUS Club customers can use their history in the program. After entering their BONUS Card number, the system will automatically place them in a rewards tier based on their activity in the previous BONUS Club customer program and they will receive 400 extra points as a welcome bonus.

Slovnaft Move is committed to data security and information transparency. In the app, everyone can easily track their points status, the level they have reached in the loyalty program (yellow, silver, gold or VIP), their previous purchases and activities or the offer of coupons and discounts.

With average buying habits in the domestic market, the transition from the basic - yellow level to the higher silver level takes about 6 months.

To earn points and redeem discounts, simply present your loyalty card or coupon in the new Slovnaft Move app. Just by downloading the Slovnaft Move mobile app or recommending the programme to friends, it is possible to earn extra points right from the start. The new customer programme also includes time-limited challenges, the completion of which is linked to a subsequent reward.

All the details about the new customer programme in the Slovnaft petrol station network can be found at slovnaftmove.sk.

BRATISLAVA, 29th March 2023

Slovnaft considers the amendment to the law, by which the MPs of the National Council of the Slovak Republic approved the assessment of 70% of the solidarity contribution for 2023, unacceptable, unfair, discriminatory and damaging to the interests of Slovakia. The company has therefore appealed to the President of the Slovak Republic to review the adopted amendment and return it to the National Council of the Slovak Republic.

'The approved law may in its consequences actually mean the termination of fuel production in Slovakia, as it drains cash from our company to an unreasonable and unjustified extent, which could be used in the future to bridge those years when our company will report losses,” letter to the Slovak President reads.

However, Slovnaft should continue its investment activities even during the loss years in order to maintain production and ensure oil stability in Slovakia.

Slovnaft sees the approved law as a direct attack by part of the political spectrum on a long-successful private enterprise of strategic importance, which has an extraordinary multiplier effect on a number of suppliers, household incomes and, consequently, on public finances.

The President has already applied a similar rollback procedure to another energy company. Slovnaft points to the diversity of these cases.

While EUSTREAM, a.s. would have been in potential financial difficulties with the amendment to the Road Act that the President returned to Parliament, mainly because of its past business decisions, in the case of SLOVNAFT, a.s., it is the impact of external regulatory decisions that is at stake. The investments that Slovnaft needs to make and for which it needs resources arise both from the EU's sanction mechanisms in connection with the war in Ukraine and also follow the Green Deal policy. Draining these investment resources through extraordinary taxation will put Slovnaft in existential danger.

To illustrate, Eustream paid out €4.52 billion in dividends to its shareholders between 2013 and 2021, in the case of Slovnaft it was €405 million, as Slovnaft invests most of its profits in the maintenance and operation of the refinery. Thus, by voting or not voting again in Parliament, the ruling parties, including OĽaNO, de facto continue to support the massive export of capital outside the borders of Slovakia.

Moreover, the Members of the Slovak Parliament did not justify the amount of the approved solidarity contribution in any way and did not assess its possible impact on Slovakia's only refinery at all. The EU has set the rate of the solidarity contribution at a minimum of 33 % of excess profits. A rate of 70 % cannot therefore be considered adequate. Such a rate puts the domestic refinery at an extreme disadvantage in terms of its international competitiveness, also because between 60 and 90 % of the sales revenues of the various products which are also to be subject to special taxation are derived from sales abroad.

By comparison, the Austrian refinery is subject to a rate of 40 % for a period of 1.5 years - from July 1st 2022 to the end of 2023. The Austrian refinery can reduce this rate to the recommended minimum of 33 % if it can demonstrate that it has made green investments. This comparison makes it clear that, in a direct competition between two countries and two refineries, Slovakia will actually lose, as the Slovak refinery will not be able to make the kind of investments, including investments in greening production, that its neighbours will be able to make.

“We would also like to draw attention to the fact that if production at our refinery ceases at some point in the future, the Slovak market will not be able to be supplied from abroad. All neighbouring countries, with the exception of Hungary, are unsuccessful in the production of the most demanded fuel - diesel fuel - and SLOVNAFT, a.s., has so far acted as the only so-called balance producer, which has been balancing the mismatch between demand and supply on the entire regional market with its production and sales activities," the letter reads.

Slovnaft considers the adopted modification of the Solidarity Contribution Act to be detrimental to Slovakia in the long term in various aspects - from the threat of stopping the production of motor fuels, to the fundamental reduction of Slovakia's credibility in the eyes of investors due to the high unpredictability of the business environment, to the threat of limiting the economic development of the national economy, employment and the standard of living of the Slovak citizens.

• MOL Group receives shipment of Azeri Light crude oil from ACG field in Azerbaijan, in which MOL is the third largest shareholder
• Seavelvet tanker carrying 90,000 tons of crude shipped from the Port of Ceyhan in Turkey to Omisalj in Croatia, from where the crude is transported to Slovnaft Refinery in Slovakia via the Adria Pipeline 
• Shipment of Azeri Light crude from co-owned production field to be processed at own refinery means for Slovnaft the first oil processing of this type from the parent company
• New crude source allows Slovnaft as well as MOL Group greater flexibility and resilience amid ban on Russian-origin petroleum product exports by EU sanctions

Bratislava, Omisalj March 20, 2023 – MOL Group is transporting crude oil produced at its co-owned oilfield, the Azeri–Chirag–Gunashli in Azerbaijan all the way to Slovnaft Refinery in Bratislava. This is a major step for the company’s efforts to increase its crude sourcing. Also, the arrival of the Seavelvet tanker from the Port of Ceyhan in Turkey to Omisalj in Croatia and then transporting the oil to Bratislava through the Adria pipeline is a success story for MOL Group: it constitutes well-to-wheel integration of its value chain as it will bring to the market petroleum products refined at one of its own refineries using crude oil produced at a field it co-owns. The shipment is transported from the Sangachal oil terminal near Baku to Ceyhan via the BTC pipeline, also co-owned by MOL Group. Upon its arrival from Ceyhan to Omisalj, the load consisting of 90,000 tons of crude oil is being transported to Slovnaft Refinery via the Adria pipeline.  

Test production of petroleum products using the Azeri Light produced at the Azeri–Chirag–Gunashli oil field – of which MOL Group owns 9.57% – will begin in April. This comes after successful testing at Slovnaft Refinery of several types of oils from Middle East and Caspian region. This is another important milestone in Slovnaft’s and MOL Group’s journey toward greater crude sourcing flexibility amid European sanctions prohibiting the export of petroleum products from EU member states.  

 "The arrival of this shipment of Azeri Light crude oil is an extraordinary event for us, as it further demonstrates our flexibility in crude oil sourcing. It also marks a new opportunity for us to cover the entirety of the value chain in our production, from well to wheel, which is always a major accomplishment. MOL Group has a regional security supply mindset, therefore we are especially delighted to contribute to supplying the CEE region with our own crude", pointed out Gabriel SZABÓ, Executive Vice President of Downstream at MOL Group. 

"For Slovnaft, this is a historic milestone, as it is a type of oil with which we will gain completely new experience on our way to greater flexibility in the processing of various types of oil. Ongoing events outside Slovakia and the resulting EU sanctions have put Slovnaft, the only refinery in Slovakia, in front of extraordinary challenges. In a short period of time, we are adapting our technologies and processes for the processing of various oils with the aim that the energy from Slovnaft will continue to power the entire region, as it has been happening for decades. I am very proud of all Slovnaft employees and colleagues of the entire MOL Group in different countries, who work together to fulfill our task and do a fantastic job", said Marek Senkovič, executive director of Slovnaft.

MOL Group is keen to become an ever more important economic link between Azerbaijan and Central and Eastern Europe. In 2020, the company acquired 9.57% stake in the ACG oilfield, one of the flagship fields of the Azerbaijani economy, and 8.9 % in the BTC (Baku-Tbilisi-Ceyhan) pipeline. 

 “This shipment marks a milestone as it justifies once again our decision to become a major shareholder in the ACG oilfield in Azerbaijan. The capability to supply our refineries with crude sources from outside Europe gives us additional resilience during a period of rapid change. We have the flexibility to decide whether to sell our share of the oil produced at ACG or to bring it to our core region to contribute to the European energy supply security.  Furthermore, it’s a great opportunity to strengthen the cooperation between MOL Group’s key divisions, Upstream and Downstream“, said Zsombor MARTON, Executive Vice President of Exploration and Production at MOL Group. 

MOL Group is the third largest investor in the ACG project, after BP and SOCAR. This field represents 15% of MOL Group's total production and 25% of total reserves. The BTC pipeline has the potential to play an important role in MOL's supply of oil to MOL Group's refineries in Bratislava, Slovakia as well as Százhalombatta, Hungary. 

MOL continues to import Russian Export Blend via the Druzhba pipeline, as it is convinced that the best way to guarantee the security of the fuel supply in the Central and Eastern European region is to keep traditional supply channels intact while exploring and securing alternative ones. 

To understand young talents means to support them. Many talented children and young people have both the desire and the perseverance, but sometimes they lack the financial support. In order to develop their talent and to work on themselves, they can apply for support in the Talents of New Europe (TNE) grant program for the sixteenth year. The program is led by both the Central European Foundation (CEF) and SLOVNAFT, a.s. and it’s aim it so support young exceptional talents between the age of 8 and 25 who excel in sports, art or science.

Over the past 15 years, more than 500 talents have received support from the program, with a total value of almost 980 000 euros. Last year, a grant of 66 000 euros was shared between 65 children and young people. The same amount is prepared for this year.

The electronic application, requirements and specific program criteria are available on the website tne.sk. The accepted applications will be evaluated by a jury of renowned personalities and experts from the fields of sports, science and art. The use of grants applies mainly to the purchase of necessities or equipment to develop the skills and potential of successful applicants, to co-finance their participation in competitions, courses or study programs. The grant program is open for applications until March 31st, 2023.

"Talent is said to be only 5% of success, the rest is hard work. However, material support is also an important part of success. The purpose of the program is mainly to  enable talented young people from socially disadvantaged backgrounds help them work on their skills and gifts. It is them who will be part of the future elite of society, their impact on the course and perception of our country is then crucial. I personally believe that we can achieve a lot together this way," explains Anton Molnár, spokesperson and Head of Communications at Slovnaft.

"Having talent is an extraordinary gift, but it is not enough in itself.  That is why I am extremely glad that even today there are many young people who want to combine their talent with perseverance, diligence and the ambition to constantly be better. It is they who deserve not only our attention, but also our support" explains Silvia Manczalová, administrator of the Central European Foundation.