Hungarian Refiner MOL Requests Strategic Oil Release Amid Pipeline Halt

Hungarian refiner MOL has sought assistance from the country's Energy Ministry to access strategic oil reserves due to a halt in supply from the Druzhba pipeline since January 27. To mitigate the deficit, MOL will start receiving seaborne crude shipments at Croatia's port of Omisalj in early March.

Hungarian refiner MOL has appealed to the nation's Energy Ministry to release strategic oil reserves following an abrupt stop in supply from the Druzhba pipeline since January 27. This move was confirmed by the company on Monday.

In efforts to alleviate the deficit, MOL is set to supplement its refineries with seaborne crude. The first batches of this supply are expected to reach the port of Omisalj in Croatia by early March, ensuring continued operation and stability.

As the European energy landscape continues to face challenges, MOL's proactive measures aim to mitigate potential disruptions and secure a steady crude oil supply for its operations in Hungary and beyond.

(With inputs from agencies.)