Hungarian oil and gas company MOL Nyrt.'s (MOL.BU) external operating environment is set to be strong in 2008 due to expected high oil prices and improving crack spreads, Chief Financial Officer Jozsef Molnar told Dow Jones Newswires Thursday.
"I believe oil prices and spreads will be slightly better than in 2007, in the respect of external operating environment we expect a good year," Molnar said.
MOL reported a 10% rise in first-quarter opearting profit earlier Thursday due to strong sales, high oil prices and improving crack spreads in the period.
The petrochemical segment, hit by record-high raw material prices and shrinking demand, will likely remain under pressure throughout the year and its performance will remain around the level recorded in the first quarter, Molnar said.