The Hungarian oil and gas company MOL began delivering crude oil from Azerbaijan to Slovnaft's refinery in Bratislava via Omialj and the Adriatic pipeline, noting that it has completed the production process from field to vehicle and diversified supply.

MOL Group transports crude oil from the Azeri-Chirag-Gunashli oil field in Azerbaijan, in which it is a co-owner, all the way to the Slovakian Slovnaft refinery in Bratislava to increase purchasing flexibility. The MOL Group's supply chain is now complete with the arrival of the tanker Seavelvet from the port of Ceyhan in Turkey to Omialj and oil transportation to Bratislava via the Adriatic pipeline. The MOL Group will process and sell derivatives refined in one of its own refineries using crude oil produced in an oil field of which the company is a co-owner. The Azeri-Chirag-Gunashli oil field, one of the biggest in the Azerbaijani economy, where MOL Group has a 9.57 percent interest, will start producing test batches of Azeri Light oil derivatives in April. 25% of the overall reserves and 15% of the entire output of the MOL Group are represented by this field.

This news comes after the refinery at Slovnaft successfully tested various Middle Eastern and Caspian oil types. It marks yet another significant step in the MOL Group's journey toward greater flexibility in the acquisition of crude oil as a result of European sanctions on the export of derivatives from EU member nations.

"The arrival of this shipment of Azeri Light crude oil is a remarkable event for us as it further demonstrates our flexibility in crude oil procurement. It also marks a new opportunity to complete the entire value chain in our production, which is always a great achievement. MOL Group has regional security in mind supply; therefore, we are particularly pleased to be able to contribute to the supply of the CEE region with our own crude oil," Gabriel Szabo, the Executive Vice President of Refineries and Marketing at MOL Group, said.

MOL also stated that they continue to import Russian crude oil (REBCO) through the Druzhba pipeline because they believe that the best way to guarantee the security of fuel supply in the Central and Eastern European region is to maintain traditional supply channels while exploring and securing alternative ones, the statement concludes.