Hungarian oil and gas company MOL Nyrt.expects the weak
dollar to take a toll on the 2008 business environment, MOL Chief
Financial Officer Jozsef Molnar told Dow Jones Newswires Wednesday.
"Mainly as a result of the dollar's weakness, next year's
business environment will be slightly worse than this year's, but
overall it won't be bad," Molnar said after the company published its
third-quarter results.
Molnar sees little chance for refining margins to improve significantly in the coming year.
"Due to MOL's fortunate corporate structure, the temporary
weakness of a business segment can be counterbalanced by the
performance of other segments," he said.
If oil prices continue to rise, the upstream business will have a heavier influence on the company's bottom line, he said.