Galp and Moeve negotiate merger of refineries and filling stations
- Location
- Lisbon / Madrid · 🇵🇹 Portugal / Spain
- Sector
- Energy
- Organisations
- Galp ↔ Moeve (ehemals Cepsa; Eigner Mubadala und Carlyle)
- Transaction
- Merger of downstream businesses (refining and filling stations)
- Volume
- about €18bn (media figure)
- Status
- failed
Galp and the owners of Moeve, Mubadala and Carlyle, announced a non-binding agreement on 8 Jan 2026 to hold detailed talks on combining their downstream businesses in two companies (refining and trading, and a filling station network of about 3,500 stations) (econews.pt, 8 Jan 2026). Update (26 Oct 2026): Both sides ended the talks without agreement; Expansión cites differing asset valuations, the Gulf war and Portuguese sovereignty concerns, and says the operation would have been worth €18bn (Expansión, 26 Oct 2026; second source: Cinco Días).
Source: econews.pt ↗ · Archived copy ↗
Further sources: expansion.com ↗ (Archived copy ↗) · cincodias.elpais.com ↗ (Archived copy ↗)
Evidence: 3 independent sources · based on reports (not independently confirmed) · archived copy saved · How well sourced is Eurotrack?
More from: 🇵🇹 Portugal · 🇪🇸 Spain