MOL Group and KazMunayGas have signed a crude oil trade agreement

“MOL Group has been working for more than ten years to modernise the Adria oil pipeline and related infrastructure, improve the flexibility of refining technologies and establish new, commercially reliable supply routes. An integral part of this process is identifying reliable suppliers and high-quality alternative crude oil grades. We are pleased to be strengthening cooperation with our Kazakh partners, with whom we have been working successfully for more than two decades. Our latest crude oil trading agreement represents an important milestone for the entire Central and Eastern European region and confirms our ability to establish reliable, fair partnerships and solve problems,” said Gabriel Szabó, MOL Group Vice President for Downstream.

MOL Group and KMG took their business relationship to a new level at the end of 2024, when they became strategic partners and began exploring opportunities in hydrocarbon exploration and production, technology transfer, and the supply of crude oil and petrochemical products. Last year's agreement focused on expanding cooperation in exploration and production (MOL, KMG and the Chinese company Sinopec jointly produce gas and gas condensate at the Rožkovskoje field) and on the use of MOL Group technologies in Kazakhstan. The current crude oil trading agreement strengthens security of supply for Central and Eastern Europe.

MOL Group also recently signed an agreement with MVM to import 160 000 tonnes of Azerbaijani crude oil annually, representing 1.5% of MOL Group's total crude oil processing. As with Kazakh crude oil, MOL Group has been processing Azerbaijani crude oil for several years. In 2020, it acquired a stake in the Azeri – Chirag – Gunashli (ACG) oil field, from which it supplied 5 million barrels of crude oil to the region last year.