Romania’s top oil and gas company, OMV Petrom, has resumed fuel production at its Petrobrazi refinery near Ploiesti after a scheduled 20-day shutdown. The pause was used for inspections, infrastructure upgrades, and maintenance work worth around 20 million euros. A key part of the overhaul included installing a new catalyst in the diesel hydrotreater unit […]
The coal-fired thermal power plant Stanari, operated by the EFT Group, recorded a net profit of 19.7 million euros in 2024. The plant generated revenues of 116.4 million euros, down from 140 million euros in 2023. This decline in income significantly affected profitability, as net profit fell from 42 million euros the previous year. Despite
Romania: Electrica reports strong Q1 2025 performance with significant profit growth Read More »
Electrica delivered a robust financial performance in the first quarter of 2025, posting a net profit of approximately 39.4 million euros. This represents a 53.2% increase compared to the same period in 2024. The growth was primarily driven by improved results in the electricity distribution segment, supported by higher distributed volumes and increased tariffs. The
Hungary: New oil well in Somogysamson boosts energy output Read More »
A significant breakthrough in Hungary’s energy sector has come from Somogysamson, located in the southwest of the country, where a newly operational oil well is producing 1,400 barrels per day. This discovery marks the first new oil field in the Transdanubian region in nearly a decade and contributes about 1.5% to the MOL Group’s overall
Bulgaria: Bulgargaz proposes slightly lower wholesale gas price for June 2025 Read More »
Bulgarian state-owned gas supplier Bulgargaz has proposed a marginally lower wholesale natural gas price to be applied for June 2025. The suggested price stands at approximately 32.8 euros per megawatt-hour (MWh), representing a modest decrease of 0.11 percent compared to the approved price for May, which was 32.9 euros/MWh. This comes after a more substantial
Slovenia: Petrol to distribute nearly entire profit as dividends amid margin concerns Read More »
Shareholders of the Slovenian energy company Petrol have approved a proposal to allocate almost the entire profit from the previous year toward dividend payments, resulting in a gross dividend of €2.10 per share—an increase of €0.30 compared to last year. At the meeting, concerns were raised over persistently low profit margins, which shareholders warned could
Romanian natural gas producer Romgaz is preparing to expand into the Moldovan energy market, aiming to supply up to 30% of Moldova’s imported gas. The company is in the process of establishing a subsidiary in Moldova to manage these operations. Romgaz CEO Razvan Popescu confirmed that Moldova’s annual gas demand is about 1 billion cubic
Romania: Nuclearelectrica sees lower profit despite strong revenue growth in Q1 2025 Read More »
Romania’s nuclear energy operator Nuclearelectrica reported a net profit of 102.7 million euros in the first quarter of 2025, marking an 8.8% decline compared to the same period last year. Despite the drop in profit, the company posted a strong operational performance, with revenues nearing 300 million euros—up 23.6% year-on-year—driven by increased electricity sales and
Serbia: NIS proposes €39.2 million dividend payout from 2024 profit Read More »
The Board of Directors of Serbian oil company NIS has submitted a proposal to the shareholders’ assembly detailing the allocation of its 2024 profit. In line with long-standing company policy, NIS intends to distribute 25% of its annual profit to shareholders as dividends—a tradition maintained consistently, except during the pandemic. According to the board’s proposal,
MOL Group and MVM Group have launched a strategic oil trading partnership aimed at expanding and stabilizing energy supply for Central Europe, particularly for landlocked countries like Hungary and Slovakia. The collaboration seeks to increase the volume of non-Russian crude processed in MOL’s refineries by up to 160,000 tons annually, contributing to regional diversification goals.
