Hungarian oil and gas group MOL has secured shareholder approval to transition into a full holding-company structure, a move the company says will better reflect how its operations already function and bring it in line with global energy-sector standards. The restructuring aims to make MOL more agile in decision-making, more responsive to market shifts, and […]
For more than a decade, Serbia’s power sector has been defined by stagnation, delayed modernisation, and the slow unraveling of a once-dominant state monopoly. Elektroprivreda Srbije (EPS), the country’s vertically integrated electric-power utility, remains one of the largest state-owned enterprises in Southeast Europe—responsible for the country’s generation, distribution, mining and critical infrastructure stability. But it
MOL’s potential takeover of NIS: What merger rules mean for Serbia’s oil market Read More »
Although the chief of staff to Hungarian Prime Minister Viktor Orbán stated that negotiations between MOL and the majority owner of Serbia’s oil company NIS are still in their early stages, the transaction increasingly appears likely. The impression is strengthened by Orbán’s recent meeting with Russian President Vladimir Putin — and by the Hungarian leader’s
Hungarian officials have confirmed that exploratory talks are underway on the possibility of oil and gas company MOL acquiring a stake in Serbia’s national oil company NIS. The information was disclosed by Gergely Gulyás, chief of staff to Hungarian Prime Minister Viktor Orbán, who stressed that discussions are still in an early phase. Gulyás noted
Croatia: JANAF rebuts MOL and Slovnaft allegations of supply risks Read More »
Croatian pipeline operator JANAF has issued a strong response after MOL and Slovnaft informed the European Commission’s Directorate-General for Competition that JANAF’s actions allegedly threaten the security of supply through the JANAF oil pipeline. The two companies argue that recent decisions by the Croatian operator have created operational uncertainty for their refineries in Hungary and
Region: MOL and Slovnaft accuse JANAF of undermining EU supply security Read More »
Oil companies MOL and Slovnaft have written to the European Commission’s Directorate-General for Competition to raise serious concerns over the conduct of Croatia’s state-owned pipeline operator JANAF, warning that its actions are undermining the security of non-Russian oil supplies. In their letter, the companies state that JANAF recently informed them it would accept already-purchased and
Hungary: MOL CEO says Danube refinery fire caused by technical failure, not sabotage Read More »
MOL Group CEO Zsolt Hernadi has dismissed claims that the recent fire at the company’s Danube refinery in Százhalombatta was the result of sabotage or politically motivated interference, stating that the incident was caused solely by a technical malfunction. The fire, which occurred on 20 October, originated within the refinery’s interconnected processing units and was
Representatives of Croatia’s state-owned pipeline operator JANAF and Hungary’s MOL Group met to assess the current situation and coordinate the next steps toward concluding a new crude oil transport agreement for the upcoming period. Initial negotiations between the two companies began in early October, focusing on a renewed contract governing the transport of crude oil
Hungary: MOL resumes fuel production at Százhalombatta refinery following fire incident Read More »
Fuel production has resumed at MOL’s Százhalombatta refinery, operating at reduced capacity as the company gradually brings back online units unaffected by the recent fire. MOL confirmed that the restart process is on schedule and that Hungary’s domestic fuel supply remains stable and fully secured. The fire broke out on 20 October at the AV3
MOL refinery fire under control as Hungary assesses impact on fuel supply Read More »
Hungarian oil and gas company MOL announced that it has started restarting unaffected units at its Danube refinery after a major overnight fire. Fire crews remain on-site as safety inspections continue. The company confirmed that the fire is now under control, the area has been secured, and an investigation has been launched to determine the
