Montenegro: Jugopetrol maintains steady profit in 2024 despite slight asset decline

Montenegrin fuel retailer Jugopetrol posted a net profit of 7 million euros in 2024, maintaining a similar performance as the previous year. The company’s net sales grew by 1.1%, reaching 255.5 million euros, while its operating expenditures increased by 0.7%, totaling 243 million euros. At the close of 2024, Jugopetrol’s total assets stood at 126.8 […]

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Croatia: JANAF proposes substantial dividend payment amid strong profitability and expansion plans

The Management and Supervisory Boards of the Croatian oil transportation company JANAF have proposed a dividend payment of 28.81 euros per share to its shareholders. This follows a highly profitable year for the company, surpassing the business goals set by its management. As a result, shareholders are set to receive a substantial dividend as a

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Bosnia and Herzegovina: Favorable rainfall boosts HET’s electricity production and water levels in Bileca reservoir

A subsidiary of the state-owned power utility ERS, Hidroelektrane na Trebisnjici (HET), successfully met its production target in the first quarter of this year by generating 250 GWh of electricity. This achievement comes after a period of favorable rainfall, which notably improved the water levels in the Bileca reservoir. Milan Mitrovic, the Executive Director for

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Romania sees major growth in prosumers, total installed capacity hits 2.44 GW

By the end of January, Romania had reached a significant milestone with a total installed capacity of 2.44 GW from prosumers, reflecting a 63% increase compared to the previous year. The number of prosumers also surged by 79%, reaching 203,984, and this growth trend is expected to continue, fueled by the introduction of additional state

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Romania: Cerna-Belareca hydro project receives environmental approval, boosting energy independence

The environmental approval for the completion of the Cerna-Belareca hydro project has been granted by Romania’s Ministry of Environment, marking an important milestone in the country’s efforts to enhance energy independence. Located in the Baile Herculane, Mehadia, and Cornereva areas of Caras-Severin County, the project is set to increase Romania’s annual electricity generation by 40.2

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Croatia: Challenges and opportunities for geothermal energy development in Podravina basin

Croatia, particularly the Podravina basin, is situated above a vast geothermal reservoir with significant potential for renewable energy production. However, challenges persist for investors in the geothermal energy sector, including the absence of tenders for awarding premiums and the limited planned installed capacity of future power plants. On 28 March, INA began exploratory drilling at

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Bosnia and Herzegovina: RiTE Gacko issues tenders for key repairs and upgrades ahead of major overhaul

RiTE Gacko, the coal mine and thermal power plant, has announced a series of tenders in preparation for a significant overhaul planned for this year. The tenders are aimed at selecting contractors for various critical projects at the facility. One of the tenders focuses on repairs to the piping system of the boiler plant, with

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Russia’s gas exports to Europe via TurkStream see increase in early 2025, despite March decline

In the first three months of 2025, Russia increased its natural gas exports to Europe via the TurkStream pipeline by 16% compared to the same period in the previous year, reaching a total of 4.51 billion cubic meters. However, in March, exports dropped by 9.5% compared to February 2025, falling to 1.4 billion cubic meters,

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