The oil companies Moeve and Galp cancel their merger after nine months of negotiations

Moeve and Galp have ended their merger negotiations aimed at creating a major energy player in Iberia. After nine months of talks, Moeve's CEO stated that they could not reach a satisfactory commercial agreement. The merger was intended to enhance Moeve's strategic plan but was not essential for its execution. Moeve continues to focus on its Positive Motion strategy, which includes significant investments in green hydrogen and biofuels, aiming to become a European leader in sustainable energy by 2030. The company is also restructuring to improve efficiency and customer focus.