ADVERTISEMENT

MOL to revise Romanian fuel supplies

Pharma

According reports, Hungary’s energy major MOL is planning to ease ties with its Romanian partner Petrom and create its own supply channels.

The reports state MOL plans to build a logistics center capable of storing fuel, and allowing the transport of fuel from Hungary on the river Danube. Currently MOL petrol stations in Romania buy the needed fuel nearly exclusively from the Romanian Petrom, except premium products, which are mainly shipped from Hungary. MOL strategic manager in Romania, László Varró told the daily Napi Gazdaság that Petrom, using its favorable market situation, is selling fuel at a very high price, so the Hungarian oil company is considering building a new distribution center alongside the Danube, ideally near Bucharest.

According to their calculations the new base can lower the price of transportation by over 50%. After finishing modernizing the refinery in Százhalombatta, they would be able to supply the 122 Romanian stations from Hungary. Building the new logistic center could take one year and an investment of €100 million. Although MOL already has a fuel reservoir near Brassó, this is far from the Hungarian refineries, so transportation could only be realized via rail, which is more costly than water shipment. Reacting to news that appeared in the Romanian press Varró stipulated that MOL wants to remain Petrom’s partner in the future, and it is not intending to break up any business relation with the Romanian company. (Napi Gazdaság)

ADVERTISEMENT

MKIK: Local business tax should be maintained Analysis

MKIK: Local business tax should be maintained

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Capital sees urban exodus during pandemic City

Capital sees urban exodus during pandemic

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.