Overview
- Mol reports it could cover about 80% of its landlocked refineries’ intake through Croatia’s Adriatic pipeline if Druzhba flows drop, noting higher technical risks and logistics costs.
- The statement marks a shift after Prime Minister Viktor Orbán and Mol had maintained that Hungary lacked a viable alternative to Russian crude, with the Croatian line’s capacity still disputed.
- Hungary currently sources roughly 90% of its oil from Russia under a temporary EU sanctions exemption that has helped widen Mol’s refining margins and lift third‑quarter profit.
- Mol says it is cautiously upgrading refineries in Hungary and Slovakia to handle more non‑Russian grades as the EU targets a full phaseout of Russian energy by 2027.
- Orbán is in Washington with Mol chairman Zsolt Hernádi as U.S. sanctions on Rosneft and Lukoil are in focus, with officials saying the measures could significantly cut Russia’s oil revenues.