Total CAPEX decreased during 2015 compared to the previous year, primarily driven by lower Upstream spending. Despite the decrease, Upstream continued to absorb the majority of Group CAPEX with 53%, while Downstream was responsible for 41% of the spending. The remaining 6% or HUF 25.2bn of capital expenditures targeted Gas Midstream and other corporate projects.

Organic Upstream CAPEX remained at similar levels compared to 2014, while inorganic spending decreased substantially. Overall Downstream CAPEX was below base as strategic projects reached their completion phase during 2015, while inorganic spending saw a substantial increase driven by Retail acquisitions.