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2025-07-28 18:13:47
[Unexpected power outage hits refining giant hard, Moeve Petroleum's profit plummeted 19% in the first half of the year] ⑴ Moeve, Spain's second largest refiner, announced that its net profit fell 19% year-on-year to 324 million euros in the first half of the year. ⑵ Profits before interest, taxes, amortization and depreciation plummeted 33% to only 733 million euros. ⑶ The company attributed the main reason for the decline in profits to the massive power outage in Spain and Portugal on April 28. ⑷ The power outage caused the shutdown and restart of Moeve's two refineries, incurring high additional costs. ⑸ In addition, the shutdown caused by planned maintenance in the first half of the year also further reduced the capacity utilization of the refineries. ⑹ Moeve's competitor Repsol also revealed that the power outage caused it to lose 175 million euros in the second quarter. ⑺ These data highlight the huge impact of external emergencies on the profitability of the energy industry.
