Power Outage Halts Major Spanish Oil Refineries, Causes Disruption

Several Spanish oil refineries shut down operations following a power outage affecting Spain and Portugal. Plants run by Moeve, partly owned by Mubadala and Carlyle Group, halted as did units at Petronor's Bilbao refinery. The outage also impacted transport, yet its cause remains unknown.

A significant power outage wreaked havoc across Spain and Portugal on Monday, forcing the shutdown of several oil refineries, including those managed by Moeve, Spain's second-largest refinery operator. The disruption caused widespread transport issues and delays within the affected regions.

Moeve, owned by Mubadala and the Carlyle Group, confirmed that it ceased operations at its refineries. In a related move, Petronor, a Repsol subsidiary, also shuttered all units at its Bilbao facility due to the blackout. Each step reflects efforts to safeguard operations amid the power crisis.

Repsol, Spain's leading refinery operator, has yet to issue a statement regarding the shutdown. The blackout led to paralysis in public transport systems, significant traffic congestion, and flight delays, fueling speculation and concern over its root cause as investigations continue.

(With inputs from agencies.)