Talks start on Oman crude, gas imports

Experts and companies have started talks on importing natural gas and crude oil from Oman to Hungary, the Hungarian minister of foreign affairs and trade said on Thursday, after meeting his Omani counterpart, Sayyid Badr Albusaidi.

At a joint press conference after the meeting, Péter Szijjártó warned of the dangers of slapping price caps on crude oil and natural gas in the European Union.

Such a measure would harm supply security, investments into new energy resources would be delayed and prices would grow, Szijjártó said. “Instead, we would need to increase the production of fuels worldwide to curb prices and to ensure supply security,” he said.

Hungarian oil and gas company Mol and Oman’s state oil company have built a strategic partnership over the past years, and they are in talks on launching joint trainings, on the manufacturing of sustainable fuels and on implementing Hungarian technology, he said.

Oman, which is currently producing over one million barrels of crude daily, is working to become the world’s primary green hidrogen producer, an opportunity for Hungarian companies, Szijjártó said.