Maxima: Baltic Tigers' leading grocer still roaring

Despite the downturn facing the once booming Baltic Tiger States, sales at Maxima were up 31.4% to LTL4.79 billion (E1.38 billion) for the first six months of 2008. The outlook remains positive for Maxima, as sales are being boosted by price conscious consumers' attraction to its stores. Meanwhile, expansion in Bulgaria could provide a significant growth opportunity for Maxima outside the Baltics.

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CEZ makes smart move with Varna plant buy

CEZ's acquisition of the Varna coal plant in Bulgaria would, at first sight, appear to be a challenging acquisition to make given the lack of competitive intensity in Bulgaria and ever-tightening environmental legislation. However, it is in fact a judicious move given the expected development of the market and the access to lucrative carbon emissions credits likely to come with the plant.

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Plant closure will result in significant shortage of Bulgarian generation capacity

The impending closure of two more units at Bulgaria's Kozloduy nuclear facility will create supply shortage issues in both Bulgaria and surrounding markets. However, while the development of new plant projects will ease these supply issues, there is certain to be a time lag before Bulgaria can begin to reclaim its position as the fourth largest electricity exporter in Europe.

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The gloves are off in central European fuel retail

Rapid network expansion and upstream muscle are the unstoppable forces pushing Lukoil to the fore of fuel retailing in central and eastern Europe (CEE). The firm is the key mover in the region, expanding its site presence by a remarkable 180% over the past three years. But selling petrol is not simply a numbers game: Lukoil is also successfully incorporating a strong shop proposition.

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Bulgaria's move to import gas should trigger market development

If Bulgaria proceeds with potential plans to begin importing Egyptian gas, the move will have positive effects on its small, though potentially much larger, gas market. However, given Bulgaria's role as a transit state, the benefits of increased security and diversity of supply arising from the Egyptian imports will also be felt elsewhere in the region.

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Every drop helps on Europe's forecourts

In mature western European markets where fuel demand growth is stable and traditional suppliers are cutting their networks, supermarkets are driving efficiency gains. At either end of the scale, Spain and Italy contrast as excellent examples of efficient fuel retailing, the former being the most proficient vendor of fuel in Europe.

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LUKOIL: aiming high in Central Europe

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