MOL Group and Libya’s National Oil Corporation establish a strategic partnership in the oil industry
02/02/2026 • Customer news
MOL Group has concluded a new strategic partnership with Libya’s National Oil Corporation (NOC). The memorandum of understanding lays the foundations for cooperation in the areas of hydrocarbon exploration and production, technological innovation, and crude oil trading.
The memorandum of understanding was signed in Budapest by MOL Group Chairman and CEO Zsolt Hernádi and Masoud Suleiman, Chairman of Libya’s National Oil Corporation (NOC).
The strategic partnership agreement defines a framework for the exchange of information and the joint consideration of potential areas of cooperation between NOC and MOL. These include hydrocarbon exploration and production, technological innovations and improvements in oil field development, opportunities in oilfield services in Libya, as well as crude oil supply and trading activities.
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