Spanish blackouts hit profits at Mubadala-owned refiner

Spanish blackouts hit profits at Mubadala-owned refiner

Blackout cost Moeve millions Refining margins drop 35% 19% drop in net profit Spanish refiner Moeve, which is majority-owned by Abu Dhabi’s Mubadala, said earnings fell in the first half of 2025, hurt by the massive power outage in Spain and Portugal in April and a decline in refining margins. Net profit declined by 19 percent year on year to €324 million ($375 million) in the first half of 2025, the company said in a statement.  A blackout on t…