Latest news

Hungary unearths its nuclear deal with Russia

Hungarian government has confirmed a deal with Russia under which the Russian nuclear company Rosatom will set up two nuclear reactors at the Paks nuclear power plant.

read more... 08/05/2015


Ithaca decided to vend Norwegian operations to Hungary’s MOL

North Sea oil and gas firm Ithaca Energy has decided to vend its Norwegian business to Hungary's MOL for $60 million, as stated by the companies on Friday, marking the Hungarian firm's entrance into Norway's oil market.

read more... 24/04/2015


Hungary-Russia nuclear agreement hits EU objection

Hungary's plan of 10 billion euro ($10.6 billion) to develop its Soviet-era Paks nuclear power plant in a transaction with Russia has encountered a hurdle in the European Commission that might force Budapest to review the terms, as stated by EU sources on Thursday.

read more... 13/03/2015


Hungary can utilize gas from Russian accord over next 4-5 years

Hungary will employ the remaining gas in its supply agreement with Russia over the next four to five years and like this evade having to pay 3 billion euros for the unexploited gas once the contract expires at the end of 2015, according to the Prime Minister Viktor Orban.

read more... 19/02/2015


Hungary seals favorable gas deal with Russia, defying Europe, protests

Hungary and Russia sealed a natural gas deal, during the official visit Tuesday by Russian President Vladimir Putin to Hungary.

read more... 18/02/2015