MOL slashes capex, output targets

摘要

Hungarian oil and gas company MOL lowered its 2016 spending target Wednesday and flagged deep cuts in exploration spending as it focuses on projects that are viable in a low oil-price environment. MOL said it now sees capital spending this year at a maximum $1.3 billion, a 13% cut from a previously planned cap of $1.5 billion and actual 2015 spending of $1.56 billion.