MOL Romania will finish rebranding 42 Agip gas stations while aiming at a 15% share of retail market

Following a €5 million investment, MOL Romania will finish the rebranding of 42 Agip gas stations this month, after acquiring them in February 2015, reported Romania-Insider.

Hungarian fuel distributor MOL is the fourth biggest retailer in Romania, enjoying an estimated 15 per cent share of the market.

MOL Romania has an investment budget of €15 million for 2015 to spend on rebranding and pricing alignment, according to MOL Romania´s CEO Kinga Daradics.

In February this year, they successfully acquired 42 Agip gas stations from ENI Romania, reaching a total of 200 units in the country. The deal was part of larger agreement by which Hungarian parent company MOL bought 208 service stations in Romania, the Czech Republic and Slovakia from ENI.

Mol Romania aims at becoming one of country´s top three fuel retailers. According to Kinga Daradics they might have already achieved their first goal in that direction by gaining 15 per cent of the retailing market.

Presently, the three top gas station retailers in the country are OMV Petrom, Rompetrol (KMG) and Lukoil.

Finally, MOL Romania suffered a setback this month by losing a lawsuit against the Competition Council which obliges them to pay a RON 64 million fine (€14.2 million). The High Court of Cassation and Justice confirmed that the company had been part of a cartel agreement on the fuel market, reported Energy World.