Energy Trade

Energy Trade

Orlen Enters Hungarian market

Polish energy group Orlwn on Thursday announced its entry onto the Hungarian market with the takeover of 143 gas stations,...

Energy Trade

MOL Weighs Alternatives at Oil Field in SE Hungary

Hungarian oil and gas company MOL plans to drill new wells at the Algyo field in the southeast of the...

Energy Trade

MOL Budgets HUF 40 bln for Domestic Exploration in 2023

Oil and gas company MOL plans to spend HUF 40 billion on exploration in Hungary next year, the upstream head...

Energy Trade

Fossil Fuels Still Dominate Energy Mix

Last year, 67.9% of primary domestic energy consumption was provided by primary fossil energy carriers, according to a report by...

Energy Trade

Hungary Gas Stores Reach 5.44 bln Cubic Meters

Gas volume in storage facilities in Hungary has reached 5.44 billion cubic meters, over 54% of annual consumption, the Hungarian...

Energy Trade

MOL Makes Oil Discovery on Outskirts of Budapest

Hungarian oil and gas company MOL on Monday announced the discovery of a "significant amount" of crude oil on the...

Energy Trade

MOL to Stop Fuel Deliveries to Small Gas Stations

Hungarian oil and gas company MOL will not deliver gasoline and diesel next week to small refueling stations with which...

Energy Trade

Crude Deliveries Through Druzhba Restart

Deliveries of Russian crude in the direction of Hungary through the Druzhba pipeline have restarted, albeit at low pressure, Minister...

Energy Trade

Gas Reserves Increase in September

According to the latest official data, the amount of safety and special natural gas reserves totaled more than 17.71 million...

Energy Trade

Grid Balancing Tax to Cost Alteo HUF 2 bln in 2022 

Listed alternative energy company Alteo on Thursday said a new windfall profit tax on companies that provide grid balancing services...

Energy Trade

MOL Completes Divestment of U.K. Upstream Assets

Hungarian oil and gas company MOL on Thursday said it successfully closed the sale of all of its upstream assets...

Energy Trade

Romania to Supply 90% of Moldova’s Electricity Needs

Romania is set to supply Moldova with 90% of its electricity needs after the Russia-backed separatist region of Transnistria cut...

Energy Trade

Poland’s PKN Orlen to Build Hydrogen Refueling Stations 

Polish fuel giant PKN Orlen said it will build three hydrogen refueling stations in Wałbrzych, Poznań and Katowice....

Energy Trade

Nagy Advocates for Public Intervention in Corporate Sector to Solve Energy Crisis

Minister for Economic Development Márton Nagy argued that addressing the current energy crisis requires public intervention in the corporate sector...

Energy Trade

How Can Companies Consolidate Turbulent Energy Costs for 2022 and Beyond

These are undoubtedly challenging times for businesses in Hungary and across the whole European continent....

Energy Trade

E.ON Launches HUF 230 bln Grid Upgrade to Support Hungary’s Energy Transition

E.ON Hungária Group has launched a nearly HUF 230 bln electricity network development program that will create 2,323 MW of...

Energy Trade

Hungary’s Energy Import Dependence Rises

Hungary increased its domestic energy production by 2.2% in 2025, reaching 486,246 TJ, while national energy consumption grew 1.1%, yet...

Energy Trade

Deadline for MOL Talks on NIS Acquisition Extended Again

MOL has announced an extension by the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury...

Energy Trade

MOL Arbitration Claim Against Croatia Over INA Gas Business Dismissed

A commercial arbitration tribunal has dismissed Hungarian oil and gas company MOL’s claim against the state of Croatia, Croatia’s State...

Energy Trade

Analysts: Russian Gas Prices Don’t Determine Hungary’s Utility Price Cuts

An investigation by news outlet G7 concludes that even with discounted import prices, the price gap between Russian and non‑Russian...

Hungary Still EU’s Largest Buyer of Russian Pipeline Gas

Despite reducing its Russian pipeline gas purchases by 10%, Hungary remained the European Union's largest buyer in the first eight...

E.ON Launches HUF 230 bln Grid Upgrade to Support Hungary’s Energy Transition

E.ON Hungária Group has launched a nearly HUF 230 bln electricity network development program that will create 2,323 MW of...

Naftogaz, MOL Sign MoU on Fuel Storage in Hungary for Ukraine

Ukraine’s Naftogaz has signed a memorandum of understanding with Hungary’s MOL to explore developing petroleum product storage facilities near the...

Hungary Can Secure Gas Supply Without Russian Imports, Kapitány Says

Hungary could secure its gas supply without Russian imports by October 2027 if current conditions hold, Economy and Energy Minister...

MVM Introduces Dynamic Electricity Tariff

From Sep. 1, households and microbusinesses under universal service can voluntarily switch to energy company MVM's new dynamic tariff, which...

Heatwave Drives Surge in Hungary Searches for Cooling, Solar and Backup Power

Hungary’s summer heatwave is reshaping consumer searches, with interest in portable air conditioners nearly quadrupling and searches for solar products...

Hungary’s Energy Import Dependence Rises

Hungary increased its domestic energy production by 2.2% in 2025, reaching 486,246 TJ, while national energy consumption grew 1.1%, yet...

MOL, Serbia Sign Shareholders’ Agreement on Governance of NIS

Hungarian oil and gas company MOL on Tuesday said it signed a shareholders' agreement with the government of Serbia on...

Deadline for MOL Talks on NIS Acquisition Extended Again

MOL has announced an extension by the Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury...

MOL Arbitration Claim Against Croatia Over INA Gas Business Dismissed

A commercial arbitration tribunal has dismissed Hungarian oil and gas company MOL’s claim against the state of Croatia, Croatia’s State...

U.S. Grants MOL 2-Week Extension to Close NIS Deal

The U.S. Treasury's Office of Foreign Assets Control has given MOL an extra 2 weeks to conclude negotiations with Gazpromneft...

Independent Gas Stations Flag Diesel Shortage; MOL Says Supply Secure

Independent gas stations in Hungary warned that "serious motor fuel supply problems" could arise in the coming 2-3 weeks, or...

Analysts: Russian Gas Prices Don’t Determine Hungary’s Utility Price Cuts

An investigation by news outlet G7 concludes that even with discounted import prices, the price gap between Russian and non‑Russian...

Repairs on Druzhba Completed; Crude Deliveries Set to Resume

Repair work on the Druzhba pipeline, Hungary's main source of delivery for Russian crude, has been completed, MOL said in...

Independent Gas Stations Warn of Supply Disruptions

The Independent Gas Stations Association (FBSZ) warned of possibly motor fuel supply disruptions in a statement sent to Hungarian state...