Hungary’s MOL Group has signed a new strategic partnership with Libya’s National Oil Corporation (NOC), marking a fresh step in the company’s push to expand its international upstream footprint and diversify crude supply sources. The agreement establishes a framework for cooperation across hydrocarbons exploration and production, technological innovation, oilfield services, and crude trading. Under the MoU, MOL and NOC will exchange technical and commercial information and jointly evaluate potential projects in Libya, including upstream exploration opportunities and field-development technologies. The agreement also covers crude supply and trading cooperation, an increasingly strategic priority for European energy companies seeking diversification amid geopolitical uncertainty. Hernádi emphasized that Libya’s oil and gas sector remains a critical pillar of global energy supply, while highlighting the broader strategic implications for Europe.

Source: Libya Today January 30, 2026 16:19 UTC