Moeve and Galp end talks on proposed downstream merger

Moeve and Galp have decided to end discussions regarding the potential combination of their downstream businesses in the Iberian Peninsula to create two independent platforms, according to the former on Monday (26 October).

This comes following a 8 January announcement regarding a non-binding agreement between the two companies.

Moeve, formerly Cepsa, is a marine fuels provider in Spain. The company offers 2G biofuels, LNG, and conventional marine fuels including VLSFO, MGO and HSFO.

“Moeve and Galp did not reach final terms that met their respective criteria to support an enduring and value-accretive partnership,” Moeve said in a statement.

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