Greek oil refiner Motor Oil's net profit for the first half of the year plunged by 54.9%.

Greek oil refiner Motor Oil announced on Wednesday that its net profit in the first half of the year fell by 54.9% year-on-year due to a decrease in production capacity utilization and narrowing refining margins following a refinery fire in September 2024. Insurance claims were not sufficient to offset the related losses. The Athens-listed group reported a net loss of 1.634 billion euros, a significant decrease from 3.62 billion euros in the same period last year.