Europe / Caspian / CIS
Country profile: Hungary
Location: | Central Europe, northwest of Romania |
Climate: | temperate; cold, cloudy, humid winters; warm summers |
Terrain: | mostly flat to rolling plains; hills and low mountains on the Slovakian border |
Size: | 93030 sq. km total (Land area: 92340 sq. km Water area: 690 sq.km) |
Population: | 9,930,915 (July 2008 est.) |
Languages: | Hungarian 93.6%, other or unspecified 6.4% (2001 census) |
Government: | parliamentary democracy |
Capital city: | Budapest |
Legal system: | based on the German-Austrian legal system; accepts compulsory ICJ jurisdiction with reservations |
Currency: | forint (HUF) |
Licensing: |
Country profile
Poland, the Czech Republic, the Slovak Republic (commonly referred to as Slovakia), and Hungary are members of the Visegrad Group, created in February 1991 at the northern Hungarian town of Visegrad. After World War II until 1989-1990, these countries were Communist states, as well as members of the Warsaw Pact. On January 1, 1993, the Czech and Slovak Republics, previously Czechoslovakia, split to form two separate states. During the past decade, the Visegrad group has made the transition to democracy and to market-based economies. On May 1, 2004, the Visegrad countries became members of the European Union (EU). In 1999, Hungary, Poland, and the Czech Republic became the first former Warsaw Pact countries to join the North Atlantic Treaty Organization (NATO) .
Slovakia joined NATO in 2004. The Czech Republic became a member of the Organization for Economic Co-operation and Development (OECD) in 1995, Hungary and Poland joined in 1996, and Slovakia in 2001. As members of the Visegrad Group, the four countries also belong to Central European Free Trade Agreement (CEFTA) .
Slovenia , Romania , and Bulgaria are members too. The Visegrad countries are dependent on trade with the EU, in particular with Germany . These four countries also continue to face economic restructuring challenges, including: modernizing large, and to a certain extent, antiquated agricultural sectors (especially in Poland); implementing more energy efficient processes for industry in order to decrease energy consumption; absorbing the costs from cleaning up heavily-polluting industries; and adapting industries and services to EU standards.
Energy production and consumption
Oil | Gas | |
Production: | 42,180 bbl/day (2005 est.) | 2 billion cu m (2005 est.) |
Consumption: | 152,200 bbl/day (2005 est.) | 14 billion cu m (2005 est.) |
Exports: | 58,380 bbl/day (2005 est.) | |
Imports: | 150,000 bbl/day (2005 est.) | 11 billion cu m |
Reserves: | 102 million bbl (1 January 2006 est.) | 32 billion cu m (1 January 2006 est.) |
Major fields: |
Hungary - recent news
12 Dec 24 |
Hungary: ABO Energy connects 20 MW solar farm to the Hungarian grid ABO Energy recently inaugurated a 20 megawatts solar farm in Hungary, after having connected it to the grid. The project near the city of Szarvas in the Southeast of the country is the biggest project ABO Energy has developed and constructed in Hungary to date. |
08 Nov 24 |
Hungary: Third Vecsés oil well adds another 600 barrels of oil to MOL's Hungarian production MOL has announced that, in the Vecsés oil field, discovered two years ago, in addition to the already operating Vecsés-1 and 2 wells, the Vecsés-3 well also proved to be successful and increases MOL's production in Hungary by 600 barrels of oil per day. |
09 Mar 20 |
Hungary: JKX announces sale of non-core assets JKX Oil & Gas has agreed terms for the sale of the entire share capital of its wholly owned Hungarian subsidiary, Folyopart Energia KFT (Riverside Energy KFT), to Starhol Holding for a cash consideration of US$2.9 million. Riverside holds a number of Hungarian mining plots and a production facility. It is not currently producing hydrocarbons. |
24 Jan 19 |
Hungary: Sand Hill Petroleum awarded three hydrocarbons concessions in the Pannonian Basin Sand Hill Petroleum has been awarded three exploration concessions totaling 3,047 sq km in the Pannonian Basin in Hungary. |
Hungary - more news
Other countries in this region
- Afghanistan,
- Albania,
- Armenia,
- Austria,
- Azerbaijan,
- Belarus,
- Belgium,
- Bosnia and Herzegovina,
- Bulgaria,
- Croatia,
- Cyprus,
- Czech Republic,
- Denmark,
- Estonia,
- Faroe Islands,
- Finland,
- France,
- Georgia,
- Germany,
- Greece,
- Greenland,
- Iceland,
- Ireland,
- Italy,
- Kazakhstan,
- Kyrgyzstan,
- Latvia,
- Lithuania,
- Luxembourg,
- Malta,
- Moldova,
- Montenegro,
- Netherlands,
- Norway,
- Poland,
- Portugal,
- Romania,
- Russia,
- Serbia,
- Slovakia,
- Slovenia,
- Spain,
- Sweden,
- Switzerland,
- Tajikistan,
- Tatarstan,
- Turkey,
- Turkmenistan,
- Ukraine,
- United Kingdom,
- Uzbekistan