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The CEO sees the entire oil industry surrounded by a kind of negativity, especially from investors. Carbon constraints, the constant shift towards renewables and the tightening of the regulatory environment are creating a kind of uncertainty for investors. Based on share prices, the oil industry had one of the worst results this year due to the pandemic. Publicly traded oil companies have lost significant value.
“By comparison, Mol’s 30 percent drop in share price is relatively bad, but we think it’s worth a lot more. That translates into the rational decision the board voted on whether Mol’s market value is already it is so low, we can create value for our owners by buying shares, ”he added.
The construction of Campus Mol could take 28%. More important than this number is that half of the tower has already been reached, floor work is underway on the 17th floor. Basically construction is going according to plan, maybe a little ahead of schedule.
Regarding the sale of INA, he stated that the Croatian side had already recognized that there was undoubtedly a visible improvement in INA’s operation, financial efficiency, efficiency and vision of the future in its strategy.
However, in many joint ventures the problem arises that if one party is not so satisfied, it will buy from the other; this is also the case here. Mol has said so far that he is open to negotiation if there is an interpretable offer from the Croatian government. , which, financially, will recover Mol’s investments so far, we are open for sale. “
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