Hungarian oil and gas company MOL and state-owned energy company MVM will jointly charter tankers to transport up to 160,000 metric tons of crude oil per year from Azerbaijan to further diversify the energy supply of Hungary and Slovakia, APA-Economics reports, citing foreign media.
It was noted that through this cooperation, MOL can increase the volume of alternative crude oil to Russian oil processed at its refineries by up to 160,000 tons per year.
Recall that in 2020, MOL acquired Chevron's stake in the Azeri-Chirag-Gunashli (ACG) oil field in the Caspian Sea, and last year MVM announced that it would acquire a 5% stake in Azerbaijan's Shah Deniz gas field.
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