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Hungarian oil company Mol will launch a 70bn forint ($286mn) environmental investment programme this year to meet EU product quality standards by 2005. The move is expected to result in a redrawing of Mol's capital expenditure plans for this year and may impact on its regional expansion plans.
Mol plans to construct a hydrogen plant at its 160,000 b/d Szazhalombatta refinery to reduce sulphur in its output, says refining director Istvan Molnar, and will also build three further desulphurisation units at the refinery.
The environmental programme will be carried out in co-operation with Slovakian firm Slovnaft, in which Mol owns 36.2pc. Slovnaft operates the …