Importance Score: 55 / 100 🔵
Spanish Refineries Halt Production Following Power Grid Disruption
Several Spanish oil refineries, including facilities operated by Moeve, Spain’s second-largest refinery group, ceased operations Monday after a widespread power grid disruption impacted both Spain and Portugal. The power outage brought operations to a standstill, impacting oil refinery production and raising concerns about energy supply during the disruption.
Moeve Refineries Affected
A representative for Moeve, backed by the Abu Dhabi fund Mubadala and the Carlyle Group, a U.S. private equity firm, confirmed the suspension of activity at its two refineries.
Petronor’s Bilbao Refinery Shuts Down
Previously on Monday, Petronor, a majority-owned division of Repsol, declared a complete shutdown of all units at its Bilbao oil refinery in response to the nationwide power outage.
Repsol’s Response
Repsol, Spain’s leading refinery operator, has not yet responded to requests for comments regarding the event.
Impact of the Power Outage
The power outage that struck Spain and Portugal on Monday created widespread disruptions, including:
- Paralyzed public transportation systems
- Significant traffic congestion
- Flight delays
The underlying reason for the disruption is still under investigation.