Slovnaft sees its future in production of plastics
Oil and gas group MOL, whose subsidiary is Bratislava-based refinery Slovnaft, thinks that the consumption of the conventional fuels will decline up to 15% until 2030.
The world must get ready for a decline in the consumption of conventional fuels, says the Hungarian oil and gas group MOL whose subsidiary is the Slovak company Slovnaft. The group expects the consumption of petrol or diesel to fall by up to 15% over the next fifteen years. Therefore, Bratislava-based refinery Slovnaft wants to focus on the production of petrochemical products. „We will have to be flexible. We will increase the production of the petrochemical products such as polyethylenes and polypropylenes and reduce the production of petrol or diesel,“ the chairman of Slovnaft’s Board of Directors, Oszkar Vilagi, said at the meeting with journalists. MOL Group plans to invest € 4.5 billion in the petrochemical production by 2030. These investments will be placed both in Hungary and Slovakia.
Full story in Slovak: Slovnaft vidí svoju budúcnosť vo výrobe plastov
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Large industrial customers who will be signing new contracts with suppliers must also expect an increase of the price of this commodity.