The Downstream segment marked an increase in performance in Q3 2025, primarily due to refining margins widening considerably —by close to $6 per barrel —though processed volumes were seasonally low due to maintenance. Petrochemicals, however, remained below breakeven as the environment showed no improvement.

The Upstream segment delivered stable results amid a relatively stable external environment. Despite this, production decreased to an average of 92.3 mboepd in Q3 2025, near the bottom of the annual guidance, mostly due to temporary outages in Hungary. The short-term outlook is for improvement, with production having increased to 98.4 mboepd in October.

Zsolt Hernádi, Chairman-CEO of MOL Group, said: "We are used to excitement, but even by our standards, we have had an eventful period behind us. Just think of the sanctions affecting the oil market, the fire in Százhalombatta, or the anomalies surrounding shipments on the Adria pipeline. It is a joy amid so much sorrow that even these challenges—which are demanding to manage—cannot divert MOL Group from its chosen path. Thanks to the commitment of our colleagues, our operational efficiency and our flexibility, we are staying on course, as we closed a strong quarter. However in the light of the new challenges ahead of us we had to review our guidance for this year."

Consumer Services delivered growth, supported by a strong driving season and strong fuel sales, with margins strengthening due to a better pricing environment in Romania and Croatia. 

This segment remains on a high growth path. In contrast, Circular Economy Services reported negative results impacted by strong seasonality, lower revenues from extensive DRS redemption activity, and decreased secondary raw material sales.