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New Oil Field Discovered in Hungary

The Hungarian oil company MOL has announced that they discovered a new oil deposit 4,100 feet (1,250 metres) below ground in Western Hungary, near the village of Somogysámson. The deposit is able to produce up to 1,200 barrels of crude…

Hungary Lifts Veto on Sanctions Renewal as Ukraine Ceasefire Remains in Limbo

Hungary has lifted its veto on renewing sanctions against Russian individuals after striking a last-minute deal to remove four people from the list. The decision comes as the US intensifies pressure on Russia to accept an immediate 30-day ceasefire deal,…

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…

Bulgaria Offers Help for Hungary Amid Ukraine Oil Transit Dispute

Bulgaria has offered to help maintain Hungary’s energy security if Ukraine does not resume Russian Lukoil oil shipments to Hungary in the near future. Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó called Sofia’s offer a sincere gesture of…

Lukoil Oil Transit Halted to Hungary and Slovakia After Ukrainian Sanctions, Szijjártó Reacts

New sanctions by the Ukrainian government have forced oil transports from the Russian oil procedure Lukoil to be stopped to Hungary and Slovakia. However, Hungary is still receiving gas shipments from Russia uninterrupted through the TurkStream pipeline….

MOL Discovers New Oil Deposit in Hungary

The new oil deposit has been found by MOL in collaboration with another Hungarian company, O&GD Central Ltd. The new site is currently producing around 1,000 barrels of crude oil per day….
Viktor Orbán and President of the Republic of Kazakhstan Kassym-Jomart Tokayev on 2 November 2023 in Astana.

Viktor Orbán Discusses Economic Cooperation with Kazakh President

Viktor Orbán declared that Hungary’s energy supply is a key issue and noted that it is important for Hungary to be able to receive oil not only from Russia but also from Kazakhstan. He added that the volume of this…
Slovak Foreign Minister Miroslav Wlachovský (L) and Péter Szijjártó at their joint press conference in Budapest on 3 July 2023.

Hungarian-Slovakian Relations a Key Factor in Budapest’s Foreign Policy, Péter Szijjártó States

At a joint press conference held with his Slovak counterpart in Budapest, Minister Szijjártó said both Slovakia and Hungary insist that the composition of the energy mix of member states should remain a national competence….

Péter Szijjártó Reaches Agreements in Moscow

The foreign minister emphasised right after winter, ‘in Europe, it is fashionable to strut about with great bravado these days,’ but the International Energy Agency recently issued an ‘ominous’ report indicating that the most severe difficulties are expected to come…

Hungary to Decrease Russian Oil Dependency

Eurostat data contradicts a French media outlet’s claim that Hungary is becoming more dependent on Russian energy….

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