Energy Trade

Energy Trade

Natural gas reserves discovered in Romania

Romania’s Petrom Co. announced Monday it has discovered natural gas and condensed gas reserves in eastern Romania, and exploitation could...

Energy Trade

Russia, Kazakhstan, Turkmenistan agree on Caspian gas pipe–2

Russia, Kazakhstan and Turkmenistan agreed to build a gas pipeline along the Caspian coast and will sign the deal by...

Energy Trade

Petrom to buy Shell LPG business in Romania

Romanian oil company Petrom has announced that it has decided to exercise its pre-emption right regarding the purchase of a...

Energy Trade

Putin to lobby gas pipe via Russia in Turkmenistan, Kazakhstan

Russia's president is starting his trip to energy-rich Kazakhstan and Turkmenistan Thursday to promote a gas pipeline project going through...

Energy Trade

Russia announces big gas deal before Putin’s Central Asia tour

Russia will import 50 billion cubic meters of natural gas from Turkmenistan in 2007 and expects to build a gas...

Energy Trade

India may get 1% in Rosneft

Close on the heels of the ongoing bonhomie between India and the US, Russia has offered 1% equity worth $1...

Energy Trade

Gazprom says: Gas supplies to Europe unaffected by blast in Ukraine – extended

A blast, which earlier hit a Ukrainian stretch of Europe-bound natural gas pipeline owned by Russian energy giant Gazprom has...

Energy Trade

Denmark and Poland considering gas pipeline

Danish electricity and gas transmission network operator Energinet.dk has concluded an agreement with Polish oil and natural gas company PGNiG...

Energy Trade

Power struggle in the Iranian oil and gas resources too important to be ignored

Even though it is the foremost traded commodity in the world, oil is not like any other commodity. It is...

Energy Trade

Ascent Resources announces recommencement of drilling in Hungary

Ascent Resources Plc, in conjunction with its partners, has started drilling the first of two further wells in the Nyírség...

Energy Trade

OMV signs agreement with NIOC for South Pars gas field

OMV, Central Europe’s leading oil and gas group, has signed a Heads of Agreement with the National Iranian Oil Company...

Energy Trade

Austria courts Iran, angers US

Washington has protested an Austrian oil and gas firm's investment plans in Iran. However, the Americans won't have much influence...

Energy Trade

Hungary still mulling Russian and EU-backed gas pipelines

The Hungarian government on Friday said that it remained undecided on whether to support the EU-backed Nabucco gas pipeline or...

Energy Trade

LUKoil plans to become second-largest gas producer in Russia

Russia's largest crude producer LUKoil plans to become the country's second-largest gas producer, the company vice president said at a...

Energy Trade

Turkey starts building new oil pipeline

Turkey on Tuesday began constructing a new oil pipeline that is expected to carry Russian and Kazakh oil from its...

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...