Region: MOL and Slovnaft accuse JANAF of undermining EU supply security

Oil companies MOL and Slovnaft have written to the European Commission’s Directorate-General for Competition to raise serious concerns over the conduct of Croatia’s state-owned pipeline operator JANAF, warning that its actions are undermining the security of non-Russian oil supplies. In their letter, the companies state that JANAF recently informed them it would accept already-purchased and […]

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Energy, grid services & balancing markets: MNE as a regional power stabilizer

As Western Balkan energy systems modernize, Montenegro’s grid and market position is becoming strategically important. Montenegro can serve as a balancing and flexibility-services provider for neighboring power systems. Hydropower flexibility → Regional stabilization Montenegro’s hydropower plants offer fast ramping capabilities—critical for balancing Serbia’s wind capacity, Albania’s hydropower volatility, and North Macedonia’s thermal decline. Cross-border opportunities Why Montenegro

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Serbia: EPS outlines €2 billion hydropower investment strategy through 2035

Over the next decade, Serbia is expected to see nearly 2 billion euros invested in its hydropower sector, with around 760 million euros planned for the first three years alone. Of that total, approximately 470 million euros will be directed toward new hydropower developments, according to Radovan Stanić, Assistant General Director for Operations at power

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Serbia: NIS ownership shift nears completion as Russia moves to sell its stake

Russian shareholders have agreed to sell their 56.15% stake in the Serbian oil company NIS, according to Minister of Mining and Energy Dubravka Djedović. She stated that the identity of the potential buyer remains confidential, noting that negotiations are still underway and that naming the party prematurely would be inappropriate while key terms of the

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Bulgaria takes control of Lukoil operations as company considers court response

Russian oil company Lukoil announced that it may pursue legal action if it determines that its rights or legitimate interests have been infringed. The statement came after Bulgaria decided to transfer management authority over Lukoil Neftochim Burgas, Lukoil Bulgaria, and several affiliated companies to a special commercial administrator, effective 17 November 2025. Lukoil stressed that

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Serbia boosts emergency fuel reserves amid sanctions pressure on NIS

Serbia has intensified efforts to strengthen its emergency fuel reserves in the coming weeks. As part of the plan, the state is arranging deliveries of 38,000 tons of petrol, approximately 66,000 tons of diesel, and an additional 86,000 tons of crude oil to reinforce national stockpiles. Energy Minister Dubravka Đedović announced the measures during consultations

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Serbia seeks short-term extension of Gazprom gas deal amid EU policy uncertainty

Serbia’s long-term natural gas strategy has entered a period of uncertainty, prompting Belgrade to prioritize extending its current supply arrangement with Russia’s Gazprom rather than securing a new multi-year agreement. According to Srbijagas Director Dušan Bajatović, the EU’s plan to gradually phase out imports of Russian pipeline gas and LNG has fundamentally reshaped the negotiating

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Romania: Transgaz net profit soars to €136 million, nearly fivefold increase year-on-year

Romania’s natural gas transmission system operator Transgaz posted a significant improvement in its financial results for the first nine months of 2025, with consolidated net profit rising to €136.4 million—almost five times higher than during the same period in 2024. The surge in profitability was driven by strong revenue growth combined with only moderate increases

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Romania: Transelectrica’s nine-month profit drops 56% amid lower revenues and higher costs

Romania’s electricity transmission system operator Transelectrica closed the first nine months of 2025 with a net profit of €36.6 million, representing a steep 56% decline compared to the same period last year. The downturn reflects a combination of shrinking revenues and rising operational costs across several business segments. Total operating revenues fell slightly to €343

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