Energy Trade

Energy Trade

Hungary urges faster work on Nabucco

Hungarian Prime Minister Ferenc Gyurcsány on Friday called for faster work on the planned Nabucco pipeline, which would carry natural...

Energy Trade

Statoil may be given Shtockman rights

Norwegian Statoil may be given a 10% share in the development of the large Russian gas field Shtockman in the...

Energy Trade

Venezuelan president promises $18 bln of gas investment

Venezuelan President Hugo Chavez said on Sunday his government will spend $18 billion over next five years to satisfy internal...

Energy Trade

Hungary, France call for EU energy policy

French President Nicolas Sarkozy called here Friday for a real European Union energy policy, at a news conference held jointly...

Energy Trade

Gazprom to pick another partner for Shtokman by mid October

Gazprom plans to pick another partner in a project to develop the Shtokman natural gas field in the Arctic, a...

Energy Trade

Liberalizing EU gas market will put supply at risk

The European Commission’s efforts to liberalize Europe’s energy markets and reduce dependence on Russian gas imports will increase the risk...

Energy Trade

Gassco planning gas pipeline expansion

Norwegian gas network operator Gassco has revealed that the capacity of the Skanled gas pipeline that will connect Norway to...

Energy Trade

Ascent Resources finalizes Hungarian JV with MOL Rt

Hungarian oil and gas company MOL Nyrt says it has signed a gas exploration agreement with PetroHungaria Ltd, a subsidiary...

Energy Trade

Russian oil companies bid for oil deposits in Libya

Three Russian companies - Gazprom, Lukoil and Novatek - will participate in the fourth round of bidding for the right...

Energy Trade

Gazprom pushes Exxon on gas sales

Gas export monopoly Gazprom said Tuesday it needed gas from ExxonMobil’s Sakhalin-1 project for domestic use, mounting pressure on the...

Energy Trade

Gazprom plans gas field talks with E.ON

Gazprom deputy CEO Alexander Medvedev will meet with officials from German utility E.ON to discuss deadlocked talks on a gas...

Energy Trade

Russia: Fines increase for burning associated gas at oil wells

The Ministry of Natural Resources wants to increase payments for burning associated natural gas at oil wells fivefold. By 2011,...

Energy Trade

World Bank says global gas flaring amount to $40 billion

World Bank says global gas flaring amount to $40 billion annually at US market value; Emits some 400 million tons...

Energy Trade

Germany’s RWE intends to join Nabucco gas pipeline project.

The shareholders of the international consortium have approved RWE’s accession efforts while the come-from-behind partner may be chosen in late...

Energy Trade

Total to Join Shtokman with vast authority

Procedures for Total entry into the Shtokman project of Russia have been recently disclosed. The French company will share all...

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...