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Q2 net income of Hungarian oil and gas company MOL fell 74% year-on-year to HUF 78.5 billion as margins narrowed and windfall profit taxes weighed, an earnings report released ahead of the opening bell on Friday shows, according to news agency MTI.
Zsolt Hernádi said that everyone thought the Russian economy would shut down because of the sanctions, but the Russians have redirected the supply route.
The foreign minister wants to extend Hungarian oil giant MOL's exemption from sanctions on Russia, to allow its subsidiary to export to the Czech Republic.
The way out of the energy crisis can only be market-based, the Hungarian oil and gas company Mol Group's CEO, Zsolt Hernádi said.
Foundations set up in recent years by the government and endowed with considerable state shareholdings and other assets will receive Ft 91 billion in total from