MOL Group and KazMunayGas sign agreement for oil trade

Business Forum

5 August, 2025 at 12:04 PM

MOL Group continues to diversify its oil supply sources by importing 85,000 tonnes of Caspian Pipeline Consortium (CPC) oil and signing a commercial agreement with KazMunayGas (KMG), the national oil major of Kazakhstan.

In 2024, the two companies signed a strategic cooperation agreement to leverage opportunities in Kazakhstan, expanding their existing partnership in exploration and production.

Gabriel Szabó, Executive Vice President of MOL Group's Downstream Segment, said: "The trade agreement represents an important milestone for the entire Central and Eastern European region and reflects our commitment to both trustworthy and equitable partnerships and to the continuous resolution of issues."

The new commercial agreement with KMG represents an important stage for the entire region, just as the partnership with MVM for the annual import of 160,000 tonnes of oil from Azerbaijan was.

MOL Group acquired a stake in the Azeri-Chirag-Gunashli (ACG) oil field in 2020, from which it delivered 5 million barrels of oil to the region last year.

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