The European Commission may spare Hungary and Slovakia from an embargo on buying Russian oil, now under preparation, wary of how dependent the two countries are on Russian crude, two Continue Reading
Hungary said on Wednesday it was prepared to pay roubles for Russian gas, breaking ranks with the European Union which has sought a united front in opposing Moscow’s demand for Continue Reading
Hungarian Prime Minister Viktor Orban in January. Hungarian Prime Minister Viktor Orban, the closest thing Russian President Vladimir Putin has to a friend in the club of European Union leaders, Continue Reading
Hungary does not support any sanctions on Russian energy shipments as it would endanger Hungary’s energy security, foreign minister Peter Szijjarto said on Wednesday at the United Nations Human Rights Continue Reading
Hungarian Prime Minister Viktor Orban on Friday blamed European Union action to combat climate change for a surge in energy prices, and said that Poland and Hungary would present a Continue Reading
Ukrainian oil transit company UkrTransNafta has resumed oil transit toward European consumers after Hungary confirmed that it was ready to receive Russian oil, the company said on Tuesday. UkrTransNafta said Continue Reading
Hydropower production across the Balkans continued to fall in Week 39, mostly as a result of lower run-of-river output, while reservoir levels also dropped, according to hydrological reports and ENTSO-E Continue Reading
A flame rises from a chimney at Taq Taq oil field in Arbil, in Iraq’s Kurdistan region, August 16, 2014. Picture taken August 16, 2014. Hungary has increased oil imports from Iraq’s Kurdistan region at the expense of Russian crude in a sign that Middle East producers could be gaining ground in a battle with Moscow for global market share, according to trading sources. This would also be the first confirmation of large Kurdish oil shipments to Europe as autonomous Kurdistan is locked in a standoff with Baghdad over lucrative exports and faces repeated sabotage of the pipeline carrying crude to Turkey’s Ceyhan port. Hungarian oil group MOL receives the bulk of its oil imports from Russia. But it has stepped up imports of oil from Kurdistan since the summer, the sources told Reuters without giving specific volumes, part of a wider increase in seaborne crude purchases for the […]
ENLARGE Russian President Vladimir Putin, center, and Hungarian Prime Minister Viktor Orban, right, arrive to speak to the media following lengthy talks at Parliament Tuesday in Budapest. Photo: Getty Images Russian President Vladimir Putin offered Hungary’s Kremlin-friendly government more favorable terms for natural-gas supplies during a visit to Budapest that underscored Europe’s challenge in defying Moscow over Ukraine amid reliance on Russia for energy. Under a new deal, Hungary will pay Russia only for the gas it actually consumes, as opposed to the volume it contracts, lowering costs for Hungarian authorities. Hungary relies on Russia for 70% of its gas, supplied under a 20-year contract that expires this year. Hungarian Prime Minister Viktor Orban said a political agreement on the gas deliveries had been reached, though technical details needed to be completed. He made a joint appearance with Mr. Putin in Budapest, a public-relations victory for a Russian president […]
BUDAPEST—Hungarian oil and gas company MOL Nyrt said on Tuesday that it has experienced disruptions in the supply of diesel fuel flowing through a pipeline from Russia via Ukraine. The company, which replied by email to questions posed by The Wall Street Journal, didn’t disclose the nature of the disruption. MOL said only that its “Russian partner fulfills its long-term contractual obligations.” Ownership of the diesel pipeline, however, has been in dispute between Ukraine and Moscow, as Kiev considers the Russian pipeline as Ukrainian property, a source close to the matter outside MOL said. MOL also imports crude oil from Russia via Ukraine, but the company said it hasn’t suffered disruptions so far and “hoped there won’t be any in the future.” MOL also said its refineries could be supplied with crude oil via an Adriatic pipeline, if necessary. Energy issues have been in the forefront in the bitter […]
