Hungary's MOL may cut capital expenditures-CFO

BUDAPEST, Oct 22 (Reuters) - Hungarian oil and gas group MOL said on Wednesday it was closely monitoring changes in the business environment and may cut its capital and operating expenditures.

MOL's Chief Financial Officer Jozsef Molnar told Reuters the company has an over 1.2 billion euro ($1.58 billion) unutilised credit facility, which provides appropriate financial flexibility for the group.

'Meanwhile, we are closely monitoring today's changes in the macroeconomic environment, and revising our investment program along a strict and disciplined capex target,' Molnar said.

'MOL may cut its capital and operating expenditures,' he added.

Molnar declined to give further details at this stage.

(Reporting by Krisztina Than; Editing by Hans Peters) ($1=.7582 Euro) Keywords: MOL/EXPENDITURES/ [e-mail] jlw COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.