Hungary would also attack South American crude oil if the Ukrainian transit were to collapse
The minister reminded that Ecuador is one of the largest oil-producing countries in the Latin American region, which provides a capacity of 140,000 barrels per day for participation in diversification processes even in remote parts of the world. Hungary’s energy supply is safe, but it is necessary to prepare for the emergency situation
if the transit of crude oil to Ukraine is impossible, then only sea transportation remains, and in this case one of the largest sources of crude oil in Latin America must also be taken into account
– he warned.
The minister also reports that the cooperation has a second leg, as the Ecuadorian government has decided that instead of exploring new oil fields, they want to increase the efficiency of the families’ extraction, which requires technologies in which Mol is among the world leaders. Negotiations on the use of Mol’s technological solutions have already started, he said. Finally, he also touched on the fact that bilateral economic cooperation has achieved success in several areas, For example, Ecuador bought a large amount of Hungarian food industry equipment, as well as Hungarian water purification systems already operating in the country.