Hungary’s MOL seeks EU funding as CEO warns of costs of Russian exit
10 Articles
10 Articles
The MOL company claims that it could phase out Russian oil imports by the end of 2027, but director György Bacsa warns that higher energy prices could fuel...
MOL is preparing to phase out Russian crude oil imports by the end of 2027, but is seeking EU funds to ensure a successful transition. The group's management warns that if diversification is not supported, soaring energy prices will cause social tension in Hungary and Slovakia, euronews reported.
HUNGARIAN MOL may stop importing Russian oil until 2027, but is seeking EU funds for diversification. They warn that without help, there could be rising prices and social unrest in Hungary and Slovakia.
Hungary’s MOL seeks EU funding as CEO warns of costs of Russian exit
MOL says it could phase out Russian oil imports by the end of 2027, but CEO György Bacsa warns that higher energy costs could fuel political instability in Hungary and Slovakia. He is calling for EU funding to expand alternative pipeline routes, as Brussels keeps focus on quitting Russian energy.
MOL Turns to the EU for the First Time: They Ask for Money to Better Separate Us From Russian Energy
During Viktor Orbán's reign, there was no question that EU funds could help Hungary wean itself off Russian energy in accordance with EU sanctions. Now the dice have turned.
Key takeaways The Hungarian energy giant MOL has announced that, technically speaking, it could end its dependence on Russian crude oil by the end of 2027. However, CEO György Bacsa has warned that a rapid transition could lead to sharply rising energy prices, potentially causing widespread social unrest and political turbulence in both Slovakia […]
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