MOL Group continues to diversify its oil supply in the region: the company has imported 85,000 tons of CPC blend crude oil and signed an oil trading agreement with Kazakhstan’s national oil company, KazMunayGas (KMG). The relationship between MOL and KMG dates back to 2004 and continues to strengthen: at the end of 2024, the companies signed a cooperation agreement to leverage opportunities in Kazakhstan. The current oil trading agreement further strengthens the security of supply for the Central and Eastern European region.
A shipment of CPC (Caspian Pipeline Consortium) crude oil has arrived from the port of Novorossiysk to Omišalj, Croatia. The 85,000 tons of CPC blend, primarily consisting of Kazakh crude oil, further increases the volume of seaborne crude oil coming into the region. Kazakh crude oil plays an essential role in MOL Group’s oil diversification programme, being one of the 14 oil types already tested at the Bratislava refinery and regularly imported into the region.
MOL and KMG elevated their relationship to a new level at the end of 2024 by becoming strategic partners, exploring opportunities in hydrocarbon exploration and production, technology transfer, crude oil supply, and petrochemicals. Last year’s agreement focused on expanding existing exploration and production cooperation (MOL, KMG, and China’s Sinopec jointly produce gas and gas condensate at the Rozhkovskoye field) and applying MOL’s technology in Kazakhstan. The current oil trading agreement further enhances supply security for Central and Eastern Europe.