Hungarian energy company MOL announced on Monday that it had contacted the government in Budapest to initiate the release of strategic oil reserves, in order to maintain security of supply in the region, Reuters reports. “If deliveries from the East do not resume in the coming days, it will be necessary for Hungary to release […]
MOL Group has entered into a new strategic partnership with Libya’s National Oil Corporation (NOC). The Memorandum of Understanding sets the foundation for cooperation in hydrocarbons exploration, technological innovation and crude trading. The memorandum of understanding was signed in Budapest by MOL Group Chairman and CEO Zsolt Hernádi and Masoud Suleman, Chairman of the National Oil Corporation (NOC). The strategic partnership agreement sets out the framework for […]
The Hungarian oil company MOL, in which the state is the largest shareholder, seems to be taking advantage of the complicated situation on the oil market in Southeastern Europe, generated by American sanctions, to expand strongly in this area in the refining and distribution segment of fuels. MOL has benefited from several exemptions from European […]
Hungarian group MOL and Croatian company Janaf conducted several joint tests on the Adria pipeline last week, but the latest results still do not confirm that the pipeline could transport sufficient volumes of crude oil from the Adriatic Sea to Hungary and Slovakia in the long term, according to a press release from MOL. During […]
As part of the strategic expansion of cooperation between NC KazMunayGas JSC (KMG) and MOL Group (Hungary), the first Kazakh oil in the amount of 85 thousand tonnes has been delivered to a Hungarian refinery. Sea transportation from the port of Novorossiysk to the Croatian port of Omisalj was provided by the national carrier Kazmortransflot […]
Hungarian oil group Mol, criticized for remaining heavily dependent on Russian energy, believes that a pipeline starting from the Ukrainian port of Odessa is the best option for diversification, reports Bloomberg, quoted by Agerpres. The Hungarian company wants to gain access to the Odessa-Brody pipeline, which starts in Odessa and reaches the Ukrainian border with […]
MOL Group and MVM Group have concluded an oil trade agreement aimed at further diversifying energy supply sources in the region, with a particular focus on landlocked Hungary and Slovakia. Through this partnership, MOL could increase the volume of crude oil from other origins processed in its refineries by up to 160,000 tonnes per year. […]
MOL Group and Turkish Petroleum have signed concession agreements with the Hungarian Ministry of Energy, granting rights for joint hydrocarbon exploration in two concession areas in Hungary, Tamási and Buzsák. The joint tender and exploration program represent the first major step taken by the two companies after signing a strategic partnership agreement last year. MOL […]
MOL Group has produced a diesel fuel containing hydrotreated vegetable oil (HVO) and sustainable aviation fuel (SAF) at the Slovnaft refinery in Bratislava. The quality of the products was verified by radioisotope analysis by the independent specialist laboratory Isotoptech Zrt. The successful test result confirms that MOL Group is technologically ready to produce alternative synthetic […]
Hungarian oil and gas company MOL has officially expressed its interest in acquiring Lukoil’s Burgas refinery, the only refinery in Bulgaria, according to Bulgarian media. Six other companies are said to be interested. MOL’s interest was confirmed by Hungarian Prime Minister Viktor Orban, who said during a briefing in Budapest that MOL had submitted a […]
MOL Group and Kazakhstan’s national oil and gas company KazMunayGas (KMG) have signed a cooperation agreement to jointly explore opportunities in the oil, gas and petrochemical sector. According to a press release from the Hungarian company, this agreement extends the Joint Venture partnership in Kazakhstan, under which MOL, KMG and Sinopec from China produce gas […]
MOL Group signed a memorandum of understanding with Turkish Petroleum Corporation (TPAO) in Istanbul to cooperate as strategic partners in hydrocarbon exploration and production, an MOL statement said. “The companies have decided to take their collaboration to a new level, after the successful implementation of joint international projects, with a view to a potential exploration […]
Hungarian oil group MOL expects its refineries to also be able to process non-Russian crude by the end of 2026, a year later than planned, as some adjustment projects have been delayed, an MOL official said. writes Reuters. Following Russia’s invasion of Ukraine in 2022, the European Union banned its member states from importing Russian […]
The MOL Group and its joint venture partners have signed commercial agreements for the development of gas reserves in Azerbaijan, according to a press release from the Hungarian company. After SOCAR and BP, MOL is the third largest shareholder in the ACG oil field, where unassociated gas reservoirs have been identified below and above the […]
