MVM and MOL signed an agreement on oil trade

MOL Group and MVM Group concluded an agreement on oil trade in order to further diversify the region's energy portfolio, with a special focus on continental countries, Hungary and Slovakia. 

Through this collaboration, Mol could increase the amount of alternative crude oil processed in its refineries by up to 160,000 tons per year. Both companies will transport crude oil from the Caspian region to the Ceyhan terminal in Turkey via the Baku-Tbilisi-Ceyhan (BTC) pipeline, from where it will be further distributed to the markets of MOL Group, which has been cooperating with the Azeri crude oil producer for several years. In 2020, the company bought a stake in the Azeri–Chirag–Gunashli (ACG) oil field, from which it supplied five million barrels of crude oil for the region's needs last year. MVM Group entered the Azerbaijani market as an investor in 2024 by purchasing a 5% stake in the production sharing agreement for the Shah Deniz gas condensate (crude oil) field. 

You can read the full article here.