Gas Industry

Greece revisits wholesale power surge despite no evidence of manipulation Read More »

Greece revisits wholesale power surge despite no evidence of manipulation

This renewed scrutiny comes despite an earlier investigation by RAAEY, which did not find evidence of market manipulation or improper bidding. However, in light of ACER’s findings, the regulator will review market activity from June to September 2024, with a particular focus on days of extreme volatility. One of the key dates under examination is […]

Bulgaria moves ahead with special administrator for Lukoil despite Presidential warning Read More »

Bulgaria moves ahead with special administrator for Lukoil despite Presidential warning

Bulgaria’s National Assembly has taken steps that move in different directions regarding the expanded powers granted to a Government-appointed administrator for the country’s only oil refinery, Lukoil Neftochim Burgas. President Rumen Radev vetoed the amendments, arguing that the changes undermine the rule of law, contradict key European legal standards, and expose public finances to unnecessary

Bosnia and Herzegovina: RS risks 102 million euro payout after unilateral wind farm concession termination Read More »

Bosnia and Herzegovina: RS risks 102 million euro payout after unilateral wind farm concession termination

Bosnia and Herzegovina’s foreign minister Elmedin Konakovic said that Croatian company Kermas Energija is likely to win its arbitration case against Bosnia and Herzegovina, specifically against the Republic of Srpska (RS), whose Government unilaterally terminated the company’s concession for a wind farm project in eastern Herzegovina. Konakovic confirmed that the Council of Ministers reviewed information

Romania: No extension on U.S. sanctions as government moves to secure petrotel operations Read More »

Romania: No extension on U.S. sanctions as government moves to secure petrotel operations

Romania will fully comply with the international sanctions imposed on Lukoil and will not request an extension beyond the 21 November deadline set by U.S. authorities. Energy Minister Bogdan Ivan said that the Government is working intensively on a legal mechanism that will ensure both adherence to the sanctions regime and the continued operation of

Montenegro: Jugopetrol positioned to secure contract for fuel reserve storage Read More »

Montenegro: Jugopetrol positioned to secure contract for fuel reserve storage

Jugopetrol, Montenegro’s main fuel distributor and a subsidiary of Greece’s Hellenic Energy, has become the sole bidder in the Government’s tender for leasing storage facilities intended for the country’s strategic petroleum reserves. The offer will now be evaluated by the national hydrocarbons administration, which will decide whether to move forward with contract negotiations. The tender,

Hungary: Paks 2 moves toward main construction phase with new regulatory approvals Read More »

Hungary: Paks 2 moves toward main construction phase with new regulatory approvals

The Hungarian Atomic Energy Authority (OAH) has issued new construction permits enabling the start of foundation concrete pouring for unit 5 at the Paks nuclear power plant, which is being designed and built by Russia’s Rosatom. The approvals also cover the construction of nuclear island facilities, marking a significant step forward for the project. The

Hungary: MOL CEO says Danube refinery fire caused by technical failure, not sabotage Read More »

Hungary: MOL CEO says Danube refinery fire caused by technical failure, not sabotage

MOL Group CEO Zsolt Hernadi has dismissed claims that the recent fire at the company’s Danube refinery in Százhalombatta was the result of sabotage or politically motivated interference, stating that the incident was caused solely by a technical malfunction. The fire, which occurred on 20 October, originated within the refinery’s interconnected processing units and was

Hungary: HUPX day-ahead power price jumps 20 % in October 2025 Read More »

Hungary: HUPX day-ahead power price jumps 20 % in October 2025

The average day-ahead electricity price on the Hungarian power exchange HUPX reached 122.09 euros/MWh in October 2025, marking a 20 percent increase compared to September, when the baseload average stood at 101.93 euros/MWh. Peak load prices followed the same upward trend, averaging 129.22 euros/MWh in October, up 33 percent month-on-month. Trading activity on the day-ahead

Bulgaria: Bulgargaz proposes lower wholesale gas price for December 2025 Read More »

Bulgaria: Bulgargaz proposes lower wholesale gas price for December 2025

Bulgarian state-owned gas supplier Bulgargaz has proposed a lower wholesale natural gas price for December 2025. The expected price for December is around 33.4 euros/MWh, representing a slight reduction of about 1 percent compared to the approved November price of approximately 33.7 euros/MWh. The November tariff, in turn, marked a 7.88 percent increase from October.

Bulgaria: Cengiz Holding and SOCAR move to acquire Lukoil’s Burgas refinery in $2.5 billion deal Read More »

Bulgaria: Cengiz Holding and SOCAR move to acquire Lukoil’s Burgas refinery in $2.5 billion deal

According to media reports, Turkish conglomerate Cengiz Holding and Azerbaijan’s state-owned energy company SOCAR are moving forward with plans to acquire Lukoil’s Neftochim Burgas refinery in Bulgaria. Their joint bid was submitted more than a year ago, reportedly surpassing several international competitors. The deal, estimated at around 2.5 billion dollars, would give the two companies

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