BUDAPEST, Jan 20 - Hungarian oil and gas group MOL MOLB.BU does not need any new credit until Oct. 2010 as its existing loans are sufficient to cover its financing needs, Chief Financial Officer Jozsef Molnar told daily Napi Gazdasag.
Molnar also told the business daily on Tuesday that MOL expected to carry out its plans to cut costs by 80 million to 100 million euros ($131.5 million).
"About the cost cutting I can say that we already see how we will achieve it, and I am convinced that we will meet our target figures," Molnar added.
He also said that MOL continued to calculate with an annual average crude price of $60 per barrel.
Molnar also told the business daily on Tuesday that MOL expected to carry out its plans to cut costs by 80 million to 100 million euros ($131.5 million).
"About the cost cutting I can say that we already see how we will achieve it, and I am convinced that we will meet our target figures," Molnar added.
He also said that MOL continued to calculate with an annual average crude price of $60 per barrel.
