Hungarian oil and gas giant MOL cuts dependence on Russia with new contract in energy sector
The MOL Group has taken another significant step toward diversifying oil supplies in Central and Eastern Europe, importing 85,000 tons of Kazakh-origin crude oil while signing a new trade agreement with Kazakhstan’s state oil company, KazMunayGas (KMG).
New delivery via the Black Sea
The shipment was transported through the Caspian Pipeline Consortium (CPC) system, departing from the port of Novorossiysk on the Black Sea and arriving at the terminal in Omišalj, Croatia. The CPC blend, mostly consisting of Kazakh crude, plays a key role in MOL Group’s oil diversification strategy. According to a MOL statement, the blend is one of 14 types of crude oil successfully tested at the Bratislava Refinery, which now processes them on a regular basis.
Two-decade partnership deepens
MOL’s relationship with KazMunayGas dates back to 2004 and has grown stronger over time. At the end of 2024, the two companies signed a strategic cooperation agreement that covers exploration and production, technology transfer, and joint projects in petrochemicals and oil supply. The latest trade deal marks another major milestone in this partnership.
“For over a decade, MOL Group has been working to make its refinery technology more flexible, strengthen the Adriatic pipeline, and establish commercially viable new supply routes,” said Gabriel Szabó, Executive Vice President of MOL Group’s Downstream division.
Secure sources, predictable future
MOL emphasised that identifying reliable suppliers and high-quality alternative crude types is key to ensuring the region’s energy security.
“We’re thrilled to further deepen our relationship with our Kazakh partners after more than 20 years of cooperation. This new agreement provides assurance not only for Hungary but for the entire Central and Eastern European region,” Szabó added.
According to the statement, joint ventures between the two companies include a project in Kazakhstan’s Rozhkovsky field involving MOL, KazMunayGas, and China’s Sinopec. The goal is to apply MOL’s technological expertise in Kazakhstan and further strengthen the existing partnership.
Oil also flowing from Azerbaijan
MOL is also expanding ties with Azerbaijan, recently signing a contract with MVM for the annual delivery of 160,000 tons of Azerbaijani crude. This volume accounts for about 1.5 percent of MOL’s annual oil processing capacity.
Since 2020, MOL has held interests in the Azeri–Chirag–Gunashli (ACG) oil field. In 2024 alone, it transported 5 million barrels of oil from the field to the region.
Same goal: Reliable, diverse sources
MOL Group reiterated that its core strategy remains unchanged: to secure long-term energy stability for the region by incorporating raw materials from as many reliable and diverse sources as possible.
More news: Kazakhstan
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