MOL Group and KazMunayGas Ink Oil Trading Deal

5 August 2025

Key highlights

MOL imported 85,000 tons of CPC blend crude oil to Croatia.
The CPC shipment arrived from Novorossiysk to Omišalj.
Kazakh crude is part of MOL's oil diversification program.
MOL signed a commercial agreement with MVM for 160,000 tons of Azerbaijani crude annually.

Oil Trading Agreement

MOL Group has signed an oil trading agreement with Kazakhstan's national oil company, KazMunayGas (KMG), to import 85,000 tons of CPC blend crude oil. This agreement aims to enhance the security of oil supply for the Central and Eastern European region.

Crude Oil Shipment

The shipment of CPC crude oil, primarily Kazakh, arrived from the port of Novorossiysk to Omišalj, Croatia. This addition increases the volume of seaborne crude oil entering the region, supporting MOL's oil diversification efforts.

Strategic Partnership

MOL and KMG have elevated their relationship to a strategic partnership, focusing on hydrocarbon exploration, production, technology transfer, and petrochemicals. The partnership builds on a history of collaboration dating back to 2004.

Additional Agreements

In addition to the Kazakh oil deal, MOL Group has signed a commercial agreement with MVM to import 160,000 tons of Azerbaijani crude oil annually. This agreement complements MOL's existing stake in the Azeri-Chirag-Gunashli oilfield, from which it delivered 5 million barrels of crude oil last year.

Source: MOL Group