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Hungary’s Mol Eyes Ukraine Port Access to Phase Out Russian Oil

Summary by Bloomberg
Mol Nyrt., the Hungarian oil company that’s faced criticism for maintaining strong reliance on Russian energy, sees a pipeline from the Ukrainian port of Odesa as its best bet at diversification.

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Odessa Port. Photo: State Enterprise "Odessa City Trade Port" Hungarian energy company Mol is considering the Ukrainian oil pipeline "Odesa - Brody". Connecting to this infrastructure would allow Hungary to reduce its dependence on Russian oil, but the project is associated with serious risks and requires significant investments. According to Bloomberg, Mol, which has been repeatedly criticized for its excessive dependence on Russian energy, is …

Hungarian oil company Mol, which depends on Russian energy carriers, wants to diversify its supplies - the pipeline from the port of Odessa is considered the best option for this

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In an interview with Index, Energy Minister Csaba Lantos highlighted the importance of the Russian gas contract in Hungary's energy supply, while criticizing the EU's efforts to limit the import of Russian energy sources. According to him, this would cost Hungarians quite a lot.

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Portfolio.hu broke the news in on Tuesday, July 8, 2025.
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