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7th December, 2017

MOL to sell off UK operations

MOL has commissioned the Bank of America Merrill Lynch (BAML) to sell its UK operations, news agency Reuters learnt from banking sources.

The value of the transaction is estimated to be hundreds of millions of dollars.

The energy company entered the UK production market on the North Sea at the end of 2013.

The Hungarian oil giant has put a $375 million price tag on its UK portfolio.

MOL has a 50% stake in the Scolty-Crathes field and a 20% stake in the Catcher field.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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