Hungary: MOL Group Q2 2025 profit falls 56%, launches “Tomorrow Downstream” program to boost efficiency

MOL Group reported a profit before tax of 236 million dollars in Q2 2025, representing a 56% year-on-year decline. While a softer regional macroeconomic environment weighed on results, strong upstream volumes, robust downstream throughput, and growing consumer services activity helped mitigate the impact. Based on first-half performance, management maintained its full-year 2025 guidance but noted […]

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Greece: PPC Group reports strong H1 2025 performance, accelerates renewable growth and coal phase-out

PPC Group reported a net income of 200 million euros for the first half of 2025, up from 180 million euros in the same period of 2024. Adjusted EBITDA reached 1 billion euros, reflecting a 7% year-on-year increase. Total capital expenditures amounted to 1.3 billion euros, with approximately 90% allocated to renewable energy, flexible generation,

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Region: ICGB secures permit for capacity expansion, boosting Greece-Bulgaria gas interconnector throughput

ICGB, the independent operator of the Greece-Bulgaria gas interconnection (IGB pipeline), has obtained a construction permit for the first phase of its capacity expansion project. This phase involves upgrading the Stara Zagora metering station in Bulgaria, increasing its throughput capacity from 3 to 5 billion cubic meters per year. With the permit secured, ICGB can

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Bosnia and Herzegovina: RiTE Gacko reports return to profit with €290,000 net income in H1 2025

Coalmine and Thermal Power Plant (RiTE) Gacko reported a net profit of approximately 290,000 euros, a significant improvement compared to a loss of 11.8 million euros during the same period last year. The company’s total revenues in the first half of the year reached 45.8 million euros, reflecting an 11.5% increase year-on-year. Meanwhile, total expenses

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Montenegro grants 24.5-year lignite concession to Pljevlja Coalmine

The Montenegrin Government has granted a 24.5-year concession to the Pljevlja coalmine for the exploration and extraction of brown lignite at four sites in the Pljevlja municipality: Potrlica, Kalusici, Grevo, and Rabitlje. Under the agreement, the company will pay a fixed total fee of 64 million euros, divided into annual installments of 2.67 million euros

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North Macedonia proposes higher rooftop solar limits and faster approval process

North Macedonia is preparing to raise the maximum capacity for rooftop solar installations to 10 kW for households and 70 kW for businesses, up from the current limits of 6 kW and 40 kW. The draft legislation also introduces strict timelines for permitting and grid connection. Under the proposal, authorities will be required to issue

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Bulgaria: Westinghouse and MTG Dolphin partner on AP1000 reactor project at Kozloduy nuclear power plant

Westinghouse Electric Company has signed its first contract with Bulgarian firm MTG Dolphin to support the construction of two AP1000 reactors at the Kozloduy nuclear power plant. Under the agreement, MTG Dolphin will establish a Nuclear Quality Assurance (NQA-1) framework, promote a strong safety culture, prepare engineering documentation for a prototype build, and may construct

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Bulgaria: Private consortium eyes expansion of Chiren gas storage to boost regional energy security

A consortium led by US financier Stephen P. Lynch, along with investor Fei Wang, has approached Bulgarian authorities to explore participation in a government-backed project aimed at doubling the capacity of the Chiren underground gas storage facility. Currently, Chiren stores mainly Russian gas and plays a crucial role in balancing seasonal demand fluctuations. The proposed

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Slovenia: HSE secures funding for Prapretno solar expansion and new project in Zagorje

Slovenia’s Ministry for Cohesion and Regional Development has awarded over 4 million euros from the Just Transition Fund to HSE for the expansion of its Prapretno solar power plant, specifically phases 2 and 3. Once fully completed, the site’s total capacity will reach 10 MW. HSE has increasingly focused its investments on renewable energy, with

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