MOL GROUP Annual Report

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Supervisory Board1. Dr. Mihály Kupa (69)Chairman of the Supervisory Board since 11th October, 2002.Chairman of the Audit Committee and contributes to the Board and to the Finance and Risk Management workBetween 1969 and 1975 he held various senior positions in the Statistical Office, between 1975-1984 in the Financial ResearchInstitute, and between 1984-1990 in the Ministry of Finance. Between 1990 and 1993 he was Minister of Finance, and from1992 to 1993 Vice-President of the Council of Governors and President of the World Bank and IMF in 1993 in Hungary. From1991, and again in 1998 he was Member of the Parliament (Independent). He is Chairman of the Supervisory Board of theNational Theatre Company.2. Dr. Attila Chikán (66)Member of the Supervisory Board since 30th April, 2004, Deputy Chairman of the Supervisory Board since 5th December,2005.Member of the Audit Committee.Since 1968 he has been working for Budapest University of Economic Sciences. (Until 2004 predecessor of CorvinusUniversity of Budapest). Between 1989 and 1998 he was Head of the Business Economics Department. In 1998 and 1999he acted as Minister of Economic Affairs. He was Rector of Budapest University of Economic Sciences between 2000 and2003. Since then he has been Director of Competitiveness Research Centre of the University. He is a Corresponding Memberof the Hungarian Academy of Sciences. At present he holds several positions in Hungarian and international professionalorganisations, and membership of the editorial boards of several international journals. He is Chairman of the SupervisoryBoard of Richter Gedeon Plc.3. Mr. Lajos Benedek (38)Member of the Supervisory Board since 12th October, 2007, as an Employee Representative.Mr. Benedek joined MOL in 1996. During the whole employment he has held various positions in the E&P Division, he hasbeen Manager of Reservoir Technology Department since 2009. He has also been member of the MOL Trade Union of MiningWorkers and Work Council.4. Mr. John I. Charody (83)Member of the Supervisory Board since 11th October, 2002.Member of the Audit Committee.Member of the British Empire and Justice of Peace, he worked in the Geophysical Institute of the Oil Exploration andDevelopment Company between 1953 and 1956. Then he was a director in Australia of various companies including Bridge OilLtd., Aurora Minerals, Project Mining and CEO of Winton Enterprises Pty. Ltd. and Galina Investment international consultingcompany. Fellow of the Institute of Australian Directors since 1971, fellow of the Australian Institute of Management since1967, Justice of Peace since 1972, he was awarded the M.B.E. by H.M. the Queen for service to Australia in 1973. In 1990 hewas appointed Minister of Commerce in Budapest by the Federal Government of Australia with regional responsibilities in12 countries. In 1997, the President of the Republic of Hungary awarded him the Officer Cross of the Republic of Hungary forhis services to fostering Australian-Hungarian financial and commercial relationship. Board Member of Pick Rt. and CsányiFoundation. Consultant of MFB Invest Zrt.5. Mr. Slavomír Hatina (63)Member of the Supervisory Board since 11th October, 2002.Mr. Hatina joined Slovnaft in 1970, working in various positions. From 1994 to December 2001, he worked for Slovnaft a.s.,Bratislava (1994-1998 as CEO, 1998-2001 as President). From 1994 to February 2005, Mr. Hatina was Chairman of the Boardof Slovnaft,a.s. A Doctorate Honoris Causa was bestowed on Mr Hatina by the Slovak University of Technology in 2001. Heis Chairman and CEO of Slovintegra a.s. Mr Hatina is a citizen of Slovakia.6. Mr. Attila Juhász (47)Member of the Supervisory Board since 12th October, 2007, delegated by the employees.Joined the Company in 1986. During his total employment held various positions in the Exploration and Production. ViceChairman of the MOL Trade Union of Production Workers, and member of the Workers Council since its foundation. Presentlyacting as an observer in the Workers Council.Supervisory Board234 MOL Group annual report 2010 235
7.Mr. József Kohán (59)Member of the Supervisory Board since 1th May, 2009, delegated by the employees.Employed by MOL as a chemical engineer M.Sc. since 1977. Held various positions in the Refining business. At DownstreamDevelopment he is working as responsible for preparing development projects in the area of refining since 1998. Author ofseveral technical publications, member of the Society of Hungarian Chemists. Member of MOL Plc. Oil industrial Tradeunion.8. Dr. Sándor Lámfalussy (81)Member of the Supervisory Board since 24th February, 1999.Between 1955 and 1975 he worked at the Banque de Bruxelles, first as economist, and during the second part of this periodas member, and later as Chairman, of the of the Management Board. On a leave of absence from his bank he was visitingprofessor at Yale University during the academic year 1961-62. In 1976 he joined the Bank for International Settlements asmember of the management and Economic Adviser, and became the Bank’s CEO from 1984 until 1993. From 1994 until July1997 he was President of the European Monetary Institute, the forerunner of the European Central Bank. In 2000-2001 hewas Chairman of the Committee of Wise Men on the Regulation of European Securities Markets, the recommendations ofwhich was accepted by the European Council, and is now being implemented. Throughout his professional carrier he wasteaching at the Catholic University of Louvain (Belgium), of which he is now a Professor Emeritus. He is a Belgian citizen.9. Mr. István Töröcskei (61)Member of the Supervisory Board since 29th April, 2010.Held senior positions in the following banks between 1973 and 1989: National Bank of Hungary, HIB London.In 1989-1991 Managing Director of Hungarian Credit Bank Ltd., in 1991-1992 Chairman of Kultúrbank Ltd., then between1992 and 1994 CEO, then Chairman-CEO of Hungarian Credit Bank Ltd. Between 1995 and 1997 Chairman of InterbankaPrague, and also Advisor in T and T Ltd. From 1997 until 2007 CEO of Equilor Investor Ltd., then from 2007 again Advisor inT and T Ltd. Chairman of the Supervisory Board in Hír TV and Gresco Ltd., and member of the Board of Directors in PannErgyLtd., Pro-Aurum Ltd. Chairman of the Széchenyi Credit Cooperative and Széchenyi Commercial Bank Ltd.Supervisory Board236 MOL Group annual report 2010 237
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MOL GROuP ANNuAL REPORT 2010MOL GRO
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Key financial and operating dataKey
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Overview of the environmentWorld ec
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Exploration and ProductionHIGHLIGHT
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OTHER RESuLTSSustainable developmen
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upstreaPortfolio EleentsRuSSIASPE 2
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ize MOL and INA sales channels in C
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PetrochemicalsPetrochemicalsPetroch
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Downstream portfolioelementsDomesti
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The most important events of 2010Th
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Gas and PowerGas and PowerThe Gas a
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Financial and Operational Performan
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1.) We have audited the accompanyin
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Moderating growth in world economy,
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Higher personal expenses due to ful
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Unit OPEX slightly increasedStronge
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…and in SPE P1 reserves2010 was t
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In Slovakia sales volumes recovered
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has been granted an IPPC and a Buil
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Refining & MarketingCAPEX down by 5
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INDEPENDENT AuDITOR’S REPORTMOL H
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Consolidated balance sheet31 Decemb
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Consolidated cash flow statement31
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Joint venturesA joint venture is a
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vi) HedgingFor the purpose of hedge
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off. Upon determination of economic
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At each balance sheet date, the Com
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IAS 1 Presentation of Financial Sta
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Exploration costsTransfers from exp
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6 Subsidiaries and jointly controll
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The purchase price allocation for t
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10 Investments in associated compan
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15 Other current assets16 Cash and
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Page 77 and 78: Capital managementThe primary objec
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Page 81 and 82: 37 Notes to the consolidated statem
Page 83 and 84: Historical SummaryHistorical Summar
Page 85 and 86: Gross reserves (according to SPE ru
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Page 89 and 90: InterviewwithGyörgy MosonyiThe str
Page 91 and 92: Objective Result Fulfillment of the
Page 93 and 94: effluents. We found that the persis
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Page 97 and 98: Employee engagementWe conduct a Gro
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Page 101 and 102: 4 Sustainability data (Performance
Page 103 and 104: 5 Notes on Non-Financial Reporting5
Page 105 and 106: 6 Assurance statements6.1 Independe
Page 107 and 108: CorporateCorporate GovernanceCorpor
Page 109 and 110: The Board of Directors prepares a f
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Page 115 and 116: 7.10.11.8.9.7. Mr. József Molnár
Page 117: 6. Mr. József Simola (44)Corporate
Page 121 and 122: Ownership Structure31.12.2009 31.12
Page 123 and 124: GlossaryAverage production costTota
Page 125 and 126: Putting into productionAccomplishme
Page 127 and 128: Content tableTopic of interestCover
Page 129: Statementresponsibilityofundersigne
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MOL GROUP Annual Report

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