-- Hungarian energy major Mol Group said Thursday that crude oil supplies to the country remain uninterrupted amid the ongoing global energy crisis as it procured its stocks from multiple sources.
"Crude oil supplies to Hungary and the region are currently uninterrupted: we follow a diversified supply strategy and source crude oil from multiple sources," the company said in a statement shared with.
Mol Group said it has supply agreements in place with Libya, Kazakhstan, Norway, and Saudi Arabia, and has also reached agreements with US companies regarding shipments.
The White House said on Thursday that Hungary's Mol Group purchased about 510,000 tons of US crude oil valued at $500 million as part of efforts to deepen bilateral energy ties.
The development was highlighted during US Vice President JD Vance's visit to Budapest, which focused on strengthening cooperation in energy, technology, and security between the two countries.
The White House also noted nuclear cooperation agreements, including plans for small modular reactors and upgrades to existing plants, with a combined potential value of about $20 billion.
The Mol Group highlighted capacity constraints via the Adria pipeline, with the system unable to meet the requirements to supply the Danube Refiner fully.
The refinery is currently operating at reduced levels following last year's AV3 fire, which cut processing capacity by nearly half and limited the volume of crude it can handle, the company added.
The company noted that transporting alternative crude grades, unlike REBCO, which offers consistent quality, has introduced operational risks, as heavier Norwegian crude moves more slowly due to its different density and chemical properties.
The company plans to resume extended joint testing with Janaf across seasons and conditions, as requested by the European Commission, to assess pipeline capabilities better once the refinery returns to full capacity.