Energy Trade

Energy Trade

MOL and O&GD Discover New Oil Reserve Near Tura

MOL and O&GD have discovered a new oil reserve near the town of Tura (about 44 km northeast of Budapest)...

Energy Trade

Motor Fuel Prices Fall Below Avg in Neighboring Countries

Prices at the pump in Hungary have fallen under the average in neighboring countries, weekly data released by the Central...

Energy Trade

Government Acknowledges Drop in Motor Fuel Prices

National Economy Minister Márton Nagy said motor fuel price reductions announced on Wednesday would bring prices at the pump down...

Energy Trade

Fuel Prices Move Closer to Avg of Neighboring Countries

Prices at the pump in Hungary have moved closer to the average in neighboring countries, according to weekly data released...

Energy Trade

Hungary Gasoline Prices 3% Over Regional Avg

Gasoline prices in Hungary stand 3.2% over the regional average, data released by the Central Statistical Office (KSH) on Friday...

Energy Trade

MET Group Records 2nd Most Profitable Year in 2023

MET Group, an international energy company that is based in Switzerland but has Hungarian roots, saw its second most profitable...

Energy Trade

Hungary Aims to Extend Shell LNG Deal

Minister of Foreign Affairs and Trade Petér Szijjárto provided an update on Hungary's commercial LNG agreement with global energy company...

Energy Trade

Deliveries of Turkish Gas to Hungary to Start April 1

Deliveries of Turkish gas to Hungary will start on April 1, Minister of Foreign Affairs and Trade Péter Szijjártó said...

Energy Trade

MOL to Boost Share of Low-carbon CAPEX

Hungary's MOL will raise its share of spending on low-carbon investments to 30-40% of total CAPEX in 2025-2030, an update...

Energy Trade

Oil Association Head Expects Fuel Price Deceleration

The general secretary of the Hungarian Mineral Oil Association, Ottó Grád, expects the growth of fuel prices to slow down...

Energy Trade

Hungary Establishes Legal Framework for Possible LNG Investments

Hungary has created the legal conditions that would make LNG infrastructure investments "theoretically possible", Energy Affairs Minister Csaba Lantos said...

Energy Trade

Bulgarian Regulator OK’s Natgas Price Cut for February

Bulgaria's utility regulator said it has endorsed a final price proposal by public supplier Bulgargaz for a wholesale natural gas...

Energy Trade

Hungary Reaches Political Agreement on Long-term Qatari LNG Deliveries

Hungary has reached a political agreement on Qatari LNG deliveries, paving the way for the signing of a long-term contract...

Energy Trade

Serbia to Invest EUR 150 mln in Oil Link With Hungary

Serbia plans to invest EUR 150 million (USD 163 million) in the construction of a 128-km (79.5 mile) cross-border oil...

Energy Trade

4th Well Starts Operating at Corvinus Project

Production started at another well that uses alternative extraction technology at a gas field on the outskirts of Sarkad on...

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...