Energy Trade

Energy Trade

Bulgaria’s Overgas to invest EUR 40 mln in new gas pipelines in 2020-2024

Bulgarian gas supplier Overgas said on Monday that it is planning to invest over BGN 79 million (EUR 40.4 million)...

Energy Trade

Romania’s OMV Petrom reports new gas discovery

Romania’s top oil and gas group OMV Petrom has said it has discovered new hydrocarbon resources in Gorj County, in...

Energy Trade

FGSZ investment enables reverse gas flow from Romania

Hungarian gas transmission system operator FGSZ Földgázszállító, a unit of MOL, inaugurated a HUF 6 billion compressor station necessary for...

Energy Trade

Szijjártó meets Gazprom, Rosatom execs in Moscow

Minister of Foreign Affairs and Trade Péter Szijjártó held talks with Gazprom Deputy Chairwoman Elena Burmistrova and Rosatom CEO Alexey...

Energy Trade

IEA economist outlines challenges and opportunities of LNG

László Varró, chief economist of the International Energy Agency (IEA), will be one of the speakers at the Budapest LNG...

Energy Trade

Ságvári: energy diplomacy aims to ensure ‘soft landing’

The Budapest Business Journal conducted an exclusive interview with Pál Ságvári, Ambassador-at-Large for Energy Security at the Ministry of Foreign...

Energy Trade

MOL discovers oil, gas reserves in Makori Deep-02, Pakistan

Pakistan Oilfields Limited (POL) has announced that, according to Hungarian energy company MOL, which is the operator of the TAL...

Energy Trade

Gas Imports: Levers and Pressure Points

The Budapest Business Journal looks at why the year 2020 seems to hold such importance in negotiations to secure Hungary’s...

Energy Trade

Hungary, Croatia mull gas market integration

Hungary and Croatia have agreed to establish a joint working group to weigh the possibility of integrating the two countriesʼ...

Energy Trade

Hungary, Russia agree gas top-up, deliveries via Austria

Hungary will top up its gas reserves this year with deliveries of 2 billion cubic meters from Russia, with another...

Energy Trade

Gas Imports: A Matter of Choices (or Not)

Speaking at a regional energy forum in Belgrade recently, Minister of Foreign Affairs and Trade Péter Szijjártó made some contradictory...

Energy Trade

Szijjártó presses ExxonMobil to take decision on Romania deal

Hungary will seal another long-term gas supply deal with Russia later this year if U.S. energy giant ExxonMobil fails to...

Energy Trade

Canada’s Vermilion to drill exploration wells in CEE

Canada-based international oil and gas producer Vermilion Energy will drill its first two exploration wells in Croatia in June, followed...

Energy Trade

Hungary to contract for TurkStream gas capacity

Hungary will launch a procedure to contract for gas capacity of the TurkStream pipeline in September, Minister of Foreign Affairs...

Energy Trade

Szijjártó says gas safe, even without Moscow-Kiev agreement

Minister of Foreign Affairs and Trade Péter Szijjártó said Alexey Miller, CEO of Russian energy company Gazprom, assured him at...

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...