MOL Group

Energy
BPSE: MOL
Hungary

"A Fresh round of oil negotiations was conducted between Iran’s NIOC and Hungary’s MOL Group over inking long-term crude sale contracts. Executive Director for International Affairs at National Iranian Oil Company (NIOC) Seyyed Mohsen Ghamsari made a visit to Budapest and began a new round of talks with MOL, the largest integrated oil and gas company from Hungary, to ink long-term and permanent contracts for crude oil sales. During his stay in Hungary, Iran’s Ghamsari, in addition to attending a meeting with MOL officials, made a visit to a Hungarian refinery. Other axes of talks between Iranian and Hungarian officials in Budapest, apart from long-term sales of crude oil, included investments in upstream and downstream sectors of Iran’s oil industry." (Mehr News Agency, "Hungary's MOL, Iran seek long-term oil contracts," 11/1/2016).

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"MOL Group, a leading international integrated oil and gas company from Hungary, has confirmed the purchase of Iranian heavy crude oil... According to traders and shipping data, MOL has commissioned a cargo of 140,000 tons of Iranian heavy crude oil for Oct. 23. The cargo will be delivered from Iran'sKharg Island terminal to Croatian port of Omisalj." (Trend, "MOL: Hungary's MOL Looking for Alternative Oil Grades from Iran," 10/5/2016).

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“Hungarian oil and gas company MOL recently held talks in Iran and is ready to start importing oil from Iran via the Adriatic pipeline if opportunities arise, Ferenc Horváth, who heads MOL’s downstream business, said in an interview with Reuters. ‘If Iran starts exporting crude officially … we will be very pleased and we will try to use that opportunity,’ he said.” (Hungary Today, “HUNGARY’S MOL EYES OIL IMPORT FROM IRAN, BUSINESS CHIEF TELLS REUTERS,” 2/11/2016)