Galp open to alliances after failing to reach agreement with Moeve but not in a hurry in the market

Galp has ended negotiations with Moeve for a merger in refining and fuels, stating it is not actively seeking a new partner but remains open to future opportunities. The company emphasizes the importance of separating retail from industrial activities and is focused on maintaining capital discipline without rushing into new acquisitions. Galp also highlighted its commitment to Brazil, stressing the need for fiscal stability and clear investment rules, especially after Lula's re-election. The company reported a significant increase in adjusted profit for Q3, driven by growth in oil and gas production in Brazil.