Galp and Moeve have entered into non-binding talks to possibly merge their downstream operations, which could be a first step toward creating one of the larger refining and fuel distribution groups in Europe.
The parties’ talks center on developing two new integrated platforms. IndustrialCo and RetailCo — each focused on consolidating and expanding their presence throughout the Iberian Peninsula. IndustrialCo will include Galp and Moeve’s refining, trading, chemical, and lower-carbon fuel-related operations. Meanwhile, RetailCo will include its respective retail fuel business, including EV-charging station development.
This model reflects both an operational integration and a strategic effort to help shape the direction of Europe’s energy transition.
The attraction to the talks stems from the size of the combined operation and the geography of the regions the two operate within. Each company has large facilities in Spain and Portugal, two countries located at the heart of refining, logistics, and transporting goods through the Mediterranean and Atlantic Corridors.
By operating out of those locations, the two companies seek to form a platform that can handle both legacy fuels and newer low-carbon fuels.
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