Hungary’s security of supply is really being damaged. There are three reasons for this, MOL told 24.hu after the Wednesday government info Goulash Gregory he said there were worrying developments surrounding the fuel price cap.
According to MOL’s statement, the problem is partly caused by the fact that the transportation of crude oil is vulnerable due to war damage to the electricity supply of the Friendship line. Due to the decision of the Ukrainian authorities, the pipeline operates intermittently, outside of peak periods, with reduced capacity. On the other hand, the Danube Refinery does not produce enough fuel. Third-party import products and importers completely disappeared from the domestic market: in November, MOL served 85 percent of the market.
MOL is trying to make up for the lost volume with extraordinary imports, but the company is no longer able to bring in more through the import channel, they said. The situation is exacerbated by the fact that purchases from the current strategic stock should only be made in an emergency and the amount withdrawn must be refilled as soon as possible. They point out that on top of this are the European sanctions, the effects of which cannot yet be predicted, but it is certain that after February 5 – when Russian diesel disappears from the European markets – negative consequences must be expected.
“In order to restore security of supply, fuel imports must be restored, which will take 2-3 months,” they finally concluded.