Key Players and Relevance
Several oil refineries in Spain, including the two plants operated by Moeve, were forced to close on Monday following a widespread power outage affecting both Spain and Portugal. Moeve, owned by the Abu Dhabi-based investment firm Mubadala and the US-based venture capital company Carlyle Group, confirmed that operations were interrupted at their refineries.
Petronor, a majority-owned subsidiary of Repsol, the largest refinery operator in Spain, also reported closing all units at its Bilbao refinery due to the power outage.
Impact on Refineries and Operations
- Moeve: The power outage led to the closure of Moeve’s two refineries, causing a halt in their operations.
- Petronor: All units at Petronor’s Bilbao refinery were shut down due to the power outage.
- Repsol: As the largest refinery operator in Spain, Repsol did not immediately respond to a Reuters request for comments regarding the situation.
Consequences of the Power Outage
The power outage that affected Spain and Portugal on Monday had significant consequences, disrupting public transportation, causing major traffic jams, and delaying flights. The cause of the outage remains unconfirmed.
Key Questions and Answers
- Who were the main refineries affected by the power outage? Several Spanish oil refineries, including Moeve’s plants and Petronor (a subsidiary of Repsol), were forced to shut down operations.
- What companies own the affected refineries? Moeve is owned by Mubadala Investment Company from Abu Dhabi and the Carlyle Group, a US-based private equity firm. Repsol, the parent company of Petronor, is Spain’s largest integrated oil company.
- What were the consequences of the power outage? The outage disrupted public transportation, caused major traffic congestion, and delayed flights in both Spain and Portugal.
- What is the current status of the refineries? As of now, Moeve and Petronor have closed their respective refineries due to the power outage, while Repsol has not yet commented on the situation.
- What is the cause of the power outage? The cause of the widespread power outage affecting Spain and Portugal remains unconfirmed.
