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MOL Executive Calls Out Western Hypocrisy on Russian Oil

Chief Operating Officer for the Hungarian oil company MOL György Bacsa recently spoke to the Financial Times about Western powers trying to pressure Hungary into giving up Russian oil imports, while they themselves continue to buy refined oil from Türkiye…
The city centre of Belgrade viewed from the Danube (Pixabay)

EU Enlargement and Energy Security — The Hungary–Serbia Relationship

Prior to the start of Hungary’s current presidency of the Council of the EU, Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó stated that the country plans to initiate the opening of a new chapter in accession negotiations with…

MOL Group Finalizes Natural Gas Extraction Agreements in Azerbaijan

After months of negotiations MOL Group has finalized commercial agreements with its joint venture partners, Azerbaijani SOCAR and British BP, for the extraction of natural gas reserves in Azerbaijan. This positions the Hungarian oil and gas company as the third-largest…

MOL Prevents Potential Supply Crisis with New Russia–Ukraine Oil Agreement

MOL has signed agreements with oil shippers and pipeline operators to ensure the continuous transport of oil through the Druzhba pipeline from Russia….

Szijjártó Highlights Hungary–Bahrain Cooperation on Global Peace Efforts

During a joint press conference with his Bahraini counterpart Abdullatif bin Rashid Al Zayani, Minister of Foreign Affairs and Trade Péter Szijjártó emphasized that Hungarians particularly value those nations around the world that, like Bahrain, stand up so resolutely and…

Ukraine to Shut Down Druzhba Oil Pipeline in January?

According to Ukrainian presidential advisor Mykhailo Podolyak, Kyiv plans to shut down the Druzhba oil pipeline starting from 1 January 2025. This pipeline is a key route through which Russian oil reaches Europe, including Hungary, Slovakia, and the Czech Republic….
President of Uzbekistan Shavkat Mirziyoyev and President of Azerbaijan Ilham Aliyev hold a meeting at Ak Saray Presidential Palace in Tashkent, Uzbekistan on 23 August 2024.

Azerbaijani and Uzbek Green Energy to Be Exported to Europe through Hungary

Hungary has been proactive in building strong economic ties and investing in energy production in Kazakhstan, Azerbaijan, and Uzbekistan. Hungarian companies, such as MVM and MOL groups, play a key role in oil production in Kazakhstan and natural gas production…

Hungary’s Energy Supply Secure Despite Ukrainian Oil Transit Disruption

Recent statements by Hungarian government officials suggest that the threat to Hungary’s energy supply is being addressed. In July, Kyiv decided to cut off supplies from Russia’s Lukoil to Hungary. Since then, intensive negotiations have commenced, and Hungarian oil giant…

MOL Increases Renewable Fuels with Significant Biofuel Production Boost

MOL supplies nine countries with fuel that includes biodiesel or bioethanol, and in some cases, other renewable materials. The Hungarian oil giant has been involved in biodiesel production since 2008 through Rossi Biofuel Ltd, significantly increasing the volume of biofuels…

Hungary Prepares for EU Presidency With an Eye on Boosting Competitiveness

One of the main priorities of the Hungarian EU Presidency, which starts in July, is to increase the EU’s competitiveness. Preparations are already well underway, and on Tuesday, Hungarian Prime Minister Viktor Orbán met with the leaders of the European…

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