Ballenoil reaches 1,270 million euros in revenue amid network expansion

Ballenoil, a subsidiary of Moeve, has reached a significant financial milestone, with revenues climbing to 1,270 million euros when including all related service stations. This growth follows a 40% increase in turnover, driven by rising fuel prices and the expansion of its low-cost refueling network. The company reported a profit of 3.9 million euros in its commercial registry filings.

As part of its strategic growth plan, Ballenoil is aggressively expanding its presence in the Basque Country (Euskadi). The company recently opened its ninth station in the region, located in Armera, marking its third opening this year. This brings its total network to 419 stations, moving closer to the corporate goal of reaching 500 stations by 2027.

The company noted that geopolitical tensions in the Middle East have contributed to higher international crude oil prices, impacting the sector. Ballenoil continues to focus on an accessible and efficient refueling model to compete in the growing low-cost market.