Slovnaft invests billions in plastics
Slovnaft, an oil refinery owned by Mol of Hungary, is getting ready for the expected drop in demand for fuels. It currently processes 75% of its crude oil into fuels and 10% into chemicals and plastics. By 2030 it wants to reduce the share of fuels to 50% and increase the share of chemicals and plastics, says Marek Senkovič, its new CEO. The change will require billions in investments and Slovnaft will apply for subsidies from the EU as well as the Slovak government.