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Ownership Structure
  • SLOVNAFT is 100% owned by SLOVNAFT Bratislava holding. It is a descendant of a former petroleum company called the Apollo refinery, which opened its headquarters in Budapest in 1895. The company refinery was built in the Apollo quarter of Bratislava, which  provided the name for the company. It was one of the first refineries in the Central Europe, and it produced a wide assortment of high quality products. Apart from gasoline, kerosene and candles, the company produced dry ice for radiators, which was also used during the production of paraffin.
  • The refinery was almost completely destroyed during WW II. It was however, quickly rebuilt. It restarted its activity in 1948 under the name of SLOVNAFT. Production was already underway in Vlce Hrdlo near Bratislava, and company activities were transferred there in 1963 after the Apollo refinery was closed. 
  •  In 1992, as a result of privatisation processes in Slovakia, SLOVNAFT was transformed into a share-issuing limited company. In 2000, 36,2 % of SLOVNAFT shares was bought by the Hungarian petroleum concern MOL. It initiated the construction of the Central European regional fuel trust. In 2003 MOL increased its capital investment in SLOVNAFT by purchasing a controlling package of  SLOVNAFT shares  (70,02%), which has led to further integration of the two companies. 
  • MOL (Magyar Olaj és Gázipari) was established in Budapest in 1991 after a merger of nine companies. MOL deals with petroleum and natural gas mining, petroleum refining, and the distribution of the petroleum and natural petrol derivatives. It was the first important petroleum-gas company in the region that was privatised. The majority of its shares (46%) belongs to investment funds, primarily from the USA and Great Britain. 
  • MOL operates three refineries: Duna, Tisza and Zala. The first two are traditional petroleum refineries; the third one is adapted to the production of special  types of asphalt. MOL also produces oils and lubricants (in Komarno). Recent initiatives of the company in the field of strategic regional development include the purchase of 25% of shares in the Croatian refining/petrochemical company INA. The MOL Group to which SLOVNAFT belongs purchased 505 m. USD worth of INA shares and has become a regional leader in the energy market with a strategic access to the financially promising Balkan region. 
  • In order to ensure the highest possible quality of its products, MOL not only fulfills all quality requirements presently obligatory in EU but already today it is introducing the UE 2005 standards. It works according to the ISO standards (for instance, 9001:2000 ISO standards). However, as the ISO standards determine only the minimum requirements in the field of  Quality Management, the concern has also introduced 11 licensed Quality Management systems and 4 environmental protection systems.


 

© SLOVNAFT 2014