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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…

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…

Hungarian Visit to Brunei: A New Pillar for the Rise in EU–ASEAN Trade Relations

The recent visit of Hungarian Foreign Minister Péter Szijjártó to Brunei underscores Hungary’s strategic intent to strengthen its relationships with burgeoning economic regions, notably the Association of Southeast Asian Nations (ASEAN). It also signals one of Hungary’s foreign affairs objectives…

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….

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