Hungary

News agencies reported that Russia's deputy prime minister Alexander Novak stated on Wednesday that the global oil demand is expected to rise by between 1.0 and 1.5 million barrels of oil per day this year. This compares to the latest expectation from the Organization of Petroleum Exporting Countries of a rise of 1,45 million bpd. Novak was quoted by Interfax as saying, "I am optimistic, because the rate of consumption increases every year. And judging from the fact that global economic growth will continue, demand for energy will increase." Experts and think tanks predict a possible oil surplus this year,...

Windfall taxes imposed by Hungary to assist plug the government's budget deficit are requiring business to pay more for nothing, the president of energy group MOL said on Sunday. MOL is Hungary's most significant business profits earner and CEO Zsolt Hernadi's remarks come two weeks after Prime Minister Viktor Orban's government extended windfall taxes on some sectors to increase public revenue. Hungary has had a hard time to contain its budget deficit because the COVID-19 pandemic, with the shortage averaging nearly 7% of economic output over the previous 4 years, well above European Union typical levels. This month, Orban's federal...

Hungarian stateowned energy corporation MVM will buy a 5% stake in Azerbaijan's Shah Deniz gas field, it said in a statement on Wednesday. Hungary, a landlocked nation, has been importing natural gas primarily from Russia even after its intrusion of Ukraine in 2022, which led many European nations to look for option sources of energy materials. Obtaining a stake in this gas field offers us (Hungary) a. defense from big energy cost swings, Hungarian Foreign. Minister Peter Szijjarto stated previously in the day in Baku during. a joint press conference with his Azeri counterpart, revealing. the acquisition. As Azerbaijan is...

Proposed new European sanctions targeting transhipments of Russian melted natural gas (LNG) are not likely to effect Asian purchasers, Kadri Simson, European Commissioner for Energy, told reporters in Tokyo on Monday. As part of a 14th package of sanctions on Russia over its war on Ukraine, the European Union proposed to ban re-loading services by EU facilities for trans-shipment of Russian LNG to third nations. This does not impact imports into the EU. The EU would likewise ban new investments and the provisions of goods, innovation and services by EU operators for the completion of LNG jobs under building such...

Hungary's federal government has chosen to fine-tune a formula imposed on fuel traders to suppress costs, omitting some central European countries from the basis of contrast, Prime Minister Viktor Orban informed public radio on Friday. Orban's government said recently it was providing fuel traders two weeks to adjust their rates to the central European average, as part of a wider federal government price-setting intervention following last year's inflation rise. Nevertheless, in an evident action back from the pressure used on fuel traders, Orban stated the government was now focused on bringing prices in line with those in neighbouring nations, omitting...

Hungary's federal government is providing fuel traders two weeks to change their rates to the central European average, Economy Minister Marton Nagy was priced quote by the index.hu outlet as telling a news conference on Wednesday. Prime Minister Viktor Orban's government ditched a fuel rate cap in December 2022 after a lack of imports and panic purchasing resulted in sustain scarcities, but guaranteed it would intervene again if fuel rates increased above the regional average. On Tuesday, the nationwide bank said fuel rate margins had actually expanded because the cap was ditched, going beyond not just their previous levels however...

Hungarian Prime Minister Viktor Orban's cabinet will talk about fuel rates again on Wednesday regardless of a recent fall in rates driven by federal government pressure on traders to line up costs with levels in other places in the region, the economy minister stated. Orban's federal government ditched a fuel price cap in December 2022 after an absence of imports and panic purchasing resulted in scarcities, however earlier this year raised the possibility of another intervention if fuel rates go beyond the central European average. Shares in Hungarian energy group MOL have actually fallen about 1% considering that the federal...

The European Commission will continue talks with Ukraine on natural gas materials to Europe and will consist of Hungary and Slovakia in these talks, according to a declaration shared by an EU diplomat and seen by Reuters on Monday The statement was read out to EU ambassadors on Monday. early morning ahead of a meeting of foreign affairs ministers who will discuss the rollover of Russia sanctions, which need to be restored every six months. Hungary has actually been holding up the renewal of the bloc's. sanctions on Russia, the renewal of which needs to be through a. unanimous vote....

Renewable energy producer Rezolv Energy and British tidy power financial investment firm Low Carbon have actually secured loan centers of up to 291 million euros ($ 314. million) to finance the construction of an onshore wind farm in. Romania. The consortium of lenders included Erste Group, UniCredit. Group, the European Bank for Reconstruction and Advancement, as. well as the International Finance Corporation, Intesa Sanpaolo. Group, OTP Bank, Raiffeisen Bank International AG and Garanti. BBVA Romania. The first stage of the so-called VIFOR project in north-east. Bucharest will set up 192 megawatts (MW) of capacity and should. come online before the...

Hungary's federal government signed an accord with Belarus to assist build Hungary's second nuclear plant, Hungarian Foreign Minister Peter Szijjarto said in a. statement in Minsk on Wednesday. Hungary's PAK 2 reactor has actually been under building and construction by. Russia's Rosatom considering that 2014. The Russian business is building 2. reactors with a capacity of 1.2 gigawatts each at PAKS 2 in. main Hungary. Of terrific value is the agreement signed here today. on nuclear energy cooperation, which enables us to utilize the. experiences Belarus got here while constructing reactors with. a comparable innovation, Szijjarto said, without offering even...

Sweden is expected to officially sign up with NATO in Washington on Thursday, two years after Russia's intrusion of Ukraine forced a total reassess of its nationwide security policy and the realisation the alliance provided the best assurance of security. Swedish Prime Minister Ulf Kristersson is in Washington to hand over the final documents, with the White House saying in a statement ahead of President Joe Biden's State of the Union Address that Sweden would join on Thursday. Having Sweden as a NATO Ally will make the United States and our Allies even safer, the declaration said. The Swedish government...

Sweden signed up with NATO in Washington on Thursday, two years after Russia's. invasion of Ukraine forced it to rethink its nationwide security. policy and conclude that assistance for the alliance was the. Scandinavian nation's finest guarantee of security. Swedish Prime Minister Ulf Kristersson turned over the final. documents to the U.S. government on Thursday, the last action. in a dragged out process to secure the backing of all members to. sign up with the military alliance. Advantages concern those who wait, U.S. Secretary of. State Antony Blinken said as he got Sweden's accession. documents from Kristersson. Blinken said everything...