Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Advertising and Sponsorship
    • Profile & Readership
    • Contact Us
    • Latest News
    • Privacy & Cookies Policies
    • Terms of Use
    • Advertising Terms
    • Issue 81
    • Issue 80
    • Issue 79
    • Issue 78
    • Issue 77
    • Issue 76
    • Issue 75
    • Issue 74
    • Issue 73
    • Issue 72
    • Issue 71
    • Issue 70
    • View All
    • About the Awards
    • Awards Timetable
    • Awards Winners
    • Submit Nominations
    • Testimonials
    • Media Room
    • FAQ
    • Asset Management Awards
    • Brand of the Year Awards
    • Business Awards
    • Cash Management Banking Awards
    • Banking Technology Awards
    • CEO Awards
    • Customer Service Awards
    • CSR Awards
    • Deal of the Year Awards
    • Corporate Governance Awards
    • Corporate Banking Awards
    • Digital Transformation Awards
    • Fintech Awards
    • Education & Training Awards
    • ESG & Sustainability Awards
    • ESG Awards
    • Forex Banking Awards
    • Innovation Awards
    • Insurance & Takaful Awards
    • Investment Banking Awards
    • Banking Awards
    • Banking Innovation Awards
    • Digital Banking Awards
    • Finance Awards
    • Investor Relations Awards
    • Leadership Awards
    • Islamic Banking Awards
    • Real Estate Awards
    • Project Finance Awards
    • Process & Product Awards
    • Telecommunication Awards
    • HR & Recruitment Awards
    • Trade Finance Awards
    • The Next 100 Global Awards
    • Wealth Management Awards
    • Travel Awards
    • Years of Excellence Awards
    • Publishing Principles
    • Ownership & Funding
    • Corrections Policy
    • Editorial Code of Ethics
    • Diversity & Inclusion Policy
    • Fact Checking Policy
    • Financial Awards
    • Private Banking Awards
    • Private Banking Innovation Awards
    • Retail Banking Awards
    Original content: Global Banking and Finance Review - https://www.globalbankingandfinance.com

    A global financial intelligence and recognition platform delivering authoritative insights, data-driven analysis, and institutional benchmarking across Banking, Capital Markets, Investment, Technology, and Financial Infrastructure.

    Copyright © 2010-2026 - All Rights Reserved. | Sitemap | Tags

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    1. Home
    2. >Finance
    3. >Hungary's MOL says it received Ukrainian oil via Druzhba pipeline after attack
    Finance

    Hungary's Mol Says It Received Ukrainian Oil via Druzhba Pipeline After Attack

    Published by Global Banking & Finance Review®

    Posted on March 3, 2026

    2 min read

    Last updated: April 2, 2026

    Add as preferred source on Google
    Hungary's MOL says it received Ukrainian oil via Druzhba pipeline after attack - Finance news and analysis from Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Global Banking & Finance Awards 2026 — Now Open for Entries
    Tags:FinanceBankingEnergyEastern EuropeOil Markets

    Quick Summary

    Hungary’s MOL says it accepted ~35,000 tonnes of Ukrainian crude via the Druzhba pipeline after a late‑January strike and fire, to avert escalation. The disruption halted Russian oil flows since January 27, triggering energy tensions between Hungary, Slovakia, Ukraine and the EU.

    Global Banking & Finance Awards 2026 — Call for Entries

    MOL Receives 35,000 Tons of Ukrainian Oil via Druzhba Pipeline After Attack

    Overview of the Ukrainian Oil Shipment and Pipeline Disruption

    Background of the Druzhba Pipeline Incident

    BUDAPEST, March 3 (Reuters) - Hungary's MOL imported some 35,000 tons of Ukrainian crude via the Druzhba pipeline at Kyiv's request after a strike and fire near the pipeline in late January, executive chairman Zsolt Hernadi told commercial television station ATV.

    Ukrainian industry officials did not immediately respond to a request for comment.

    Suspension of Oil Shipments

    Oil shipments to Hungary and Slovakia - the only European Union countries still importing Russian oil - through the pipeline have been suspended since January 27 following what Kyiv says was a Russian attack on pumping installations in western Ukraine. 

    Hungary and Slovakia say that Ukraine is keeping the pipeline out of use for political reasons, prompting Budapest to block new EU sanctions on Russia. Kyiv says repairs are taking time.

    Details of the Oil Transfer

    Pre-Attack Pipeline Operations

    Last week Reuters reported, citing three industry sources familiar with the matter, that before it was damaged, the Druzhba pipeline exported some Ukrainian oil and much higher volumes of Russian crude.

    Hernadi said MOL believed the pipeline itself suffered no damage.

    Emergency Measures and Oil Acceptance

    "When the fire broke out...from other storages they started to pump Ukrainian crude into the pipeline. The Ukrainian colleagues asked us...to take over this oil to prevent the problem and fire escalating further," Hernadi said in an interview late on Monday.

    "And we took 35,000 tons of Ukrainian crude which arrived on the Druzhba pipeline over 2-3 days."

    Ongoing Challenges and Future Outlook

    Pipeline Repairs and Security Concerns

    Ukraine's embassy in Budapest said in a statement late on Monday that "the possibility and timing of repairs to the pipeline was solely dependent on security circumstances" as Russia was continuing its attacks.

    Alternative Supply Routes and Refinery Operations

    Hernadi said the capacity of the Adriatic pipeline, which is an alternative to Druzhba to bring up seaborne oil shipments from Croatia, would be tested repeatedly this year.

    MOL's main Hungarian refinery is still operating at about 40% below capacity due to a fire last year, Hernadi said, and this would remain the case until August.    

    (Reporting by Krisztina Than; Editing by Kirsten Donovan)

    References

    • Strike on Druzhba: Why Russia attacked Viktor Orbns strategic oil pipeline
    • Oil Supplies to Hungary and Slovakia Halted After Damage to Druzhba Pipeline - The Moscow Times
    • Commission and Member States confirm no immediate oil supply concerns following the interruption of transit via the Druzhba pipeline - Energy

    Table of Contents

    • Overview of the Ukrainian Oil Shipment and Pipeline Disruption

    Key Takeaways

    • •Hungary’s MOL took in 35,000 tons of Ukrainian crude via Druzhba after a strike-induced fire, averting further disruption (en.lb.ua).
    • •Oil deliveries via Druzhba have been suspended since January 27 due to damage from Russian airstrikes; both Hungary and Slovakia rely on the pipeline and have accused Ukraine of politicizing repairs (themoscowtimes.com).

    Frequently Asked Questions about Hungary's MOL says it received Ukrainian oil via Druzhba pipeline after attack

    1Why was oil flow through the Druzhba pipeline suspended?

    Shipments were suspended following a Russian attack on pumping installations in western Ukraine on January 27.

    2How much Ukrainian crude did MOL import via the Druzhba pipeline?

    MOL imported approximately 35,000 tons of Ukrainian crude at the request of Kyiv.

    3
  • Background of the Druzhba Pipeline Incident
  • Suspension of Oil Shipments
  • Details of the Oil Transfer
  • Pre-Attack Pipeline Operations
  • Emergency Measures and Oil Acceptance
  • Ongoing Challenges and Future Outlook
  • Pipeline Repairs and Security Concerns
  • Alternative Supply Routes and Refinery Operations
  • •Hungary and Slovakia are tapping emergency reserves and using the Adria pipeline alternative; EU officials report no immediate security concern despite the dispute (energy.ec.europa.eu)
  • What alternative pipeline is being considered to supplement oil supply?

    The Adriatic pipeline, bringing seaborne oil shipments from Croatia, is being tested as an alternative.

    4What is the current status of MOL’s main Hungarian refinery?

    MOL’s main Hungarian refinery is operating at about 40% under capacity due to a fire last year and will remain so until August.

    More from Finance

    Explore more articles in the Finance category

    Image for Apply Now for Best New Financial Guaranty Insurance Provider 2026
    Apply Now for Best New Financial Guaranty Insurance Provider 2026
    Image for Submit Your Nominations Best New Cyber Insurance 2026
    Submit Your Nominations Best New Cyber Insurance 2026
    Image for Apply Now for Best New Bank Takaful Provider 2026
    Apply Now for Best New Bank Takaful Provider 2026
    Image for Best New Commercial Lines Insurance Provider 2026 -- Apply Now
    Best New Commercial Lines Insurance Provider 2026 -- Apply Now
    Image for Nordic leaders welcome Iran's statement on Strait of Hormuz
    Nordic Leaders Welcome Iran's Statement on Strait of Hormuz
    Image for Recognition for Best New Bancassurance Provider 2026
    Recognition for Best New Bancassurance Provider 2026
    Image for Call for Entries: Best New Auto Insurance Company 2026
    Call for Entries: Best New Auto Insurance Company 2026
    Image for Citi hires Deutsche Bank's Wagner to head Private Company coverage in Germany, Austria
    Citi Hires Deutsche Bank's Wagner to Head Private Company Coverage in Germany, Austria
    Image for Apply Now for Best Life Insurance Company for Digital Transformation 2026
    Apply Now for Best Life Insurance Company for Digital Transformation 2026
    Image for UK's Starmer says more than a dozen countries ready to join Hormuz defensive mission
    UK's Starmer Says More Than a Dozen Countries Ready to Join Hormuz Defensive Mission
    Image for Nornickel says higher prices offset increased costs, delivery times from Iran war
    Nornickel Says Higher Prices Offset Increased Costs, Delivery Times From Iran War
    Image for Submit Your Entries for Best Marine Insurance 2026
    Submit Your Entries for Best Marine Insurance 2026
    View All Finance Posts
    Previous Finance PostFrance Little Exposed to Middle East Crisis, Bank of France Chief Says
    Next Finance PostProgress on Rules for Lethal Autonomous Weapons Urgently Needed, Says Chair of Geneva Talks