Hungary’s central bank has imposed a €122,000 fine on oil and gas group MOL for failing to promptly disclose information linked to a disruption in crude oil deliveries via the Druzhba pipeline. The regulator said the company did not provide timely notice to investors regarding the incident.
The central bank stated that MOL should have informed investors by 12 February, but it issued an official statement only on 16 February. By that point, the disruption had already been widely reported in the media and discussed by government officials.
Druzhba pipeline damage and disclosure timeline
The case relates to damage to the Druzhba pipeline at the end of January, which temporarily interrupted crude oil supplies. The central bank said the event was price-sensitive information that could have influenced investor decisions and therefore required immediate disclosure.
The regulator also opened a separate investigation into trading activity in MOL shares during the period after the pipeline incident. The probe was triggered by concerns raised by the Hungarian Association for the Protection of Individual Investors (TEBESZ).
TEBESZ concerns and share sales during disruption period
TEBESZ argued that the market was not informed in time about developments affecting a key supply route. Public filings on the Budapest Stock Exchange show that four MOL executives sold shares worth a combined €4.4 million between 27 January and 6 February.
The share sales period overlaps with the disruption window described by the central bank. The regulator has not released further details on the ongoing investigation.
MOL said it acted in accordance with all applicable regulations and continues to cooperate fully with the authorities.
