Energy Trade

Energy Trade

Kurdistan Gas Field Capacity Increases by 50% – MOL

Commercial gas sales from Pearl Petroleum's USD 1.1 billion gas expansion project (KM250) at the Khor Mor facility in the...

Energy Trade

Hungary Signs Longest LNG Deal With Engie

State-owned MVM CEEnergy has signed a 10-year agreement with Engie Energy Marketing Singapore for the annual delivery of 400 million...

Energy Trade

Crude Oil and Natural Gas Production Climbs in H1 2025

Domestic natural gas and crude oil production continued to increase in the first half of 2025, the Energy Ministry and...

Energy Trade

Szijjártó Holds Talks on Hungary-Serbia Crude Pipeline

Péter Szijjártó held talks on a planned crude pipeline between Hungary and Serbia with Serbian Minister of Mining and Energy...

Energy Trade

Hungary, Slovakia to Oppose EU-Ukraine Energy Proposal

Hungary and Slovakia will jointly protest a proposal from Brussels and Kyiv that could jeopardize Central Europe's energy security, Minister...

Energy Trade

MOL Signs Agreement for Onshore Exploration Opportunity in Azerbaijan

MOL Group and the State Oil Company of the Republic of Azerbaijan (Socar) have signed key terms for an exploration,...

Energy Trade

MOL, MVM Sign Oil Trading Agreement

Hungarian oil and gas company MOL on Thursday said it signed an oil trading agreement with state-owned energy company MVM...

Energy Trade

U.S. Targets Europe for ‘Return to American Energy Dominance’ via LNG

The United States is working to ramp up its export capacity of liquified natural gas to more than 270 billion...

Energy Trade

U.S. Extends Hungary’s Gazprombank Sanctions Exemption to May

The United States has extended Hungary's exemption from the impact of sanctions against Russia's Gazprombank until May, Hungarian Minister of...

Energy Trade

Hungary, Romania Agree on Solidarity Measures to Safeguard Security of Gas Supply

Minister of Foreign Affairs and Trade Péter Szijjártó and Romanian Minister of Energy Sebastian Ioan Burduja signed an intergov't agreement...

Energy Trade

Hungarian Gas Supplier Signs Deal to Prevent Crisis in Transnistria

A Hungarian gas supplier has signed a contract with Transnistria to avert a humanitarian crisis, Minister of Foreign Affairs and...

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...