Lisbon, April 29, 2026 (Lusa) – The European Commission will scrutinise the proposed merger between Galp and Spain's Moeve (formerly Cepsa) due to a turnover exceeding €5 billion, the president of the Portuguese Competition Authority stated on Wednesday.
During a hearing before the Economy and Territorial Cohesion Committee, Nuno Cunha Rodrigues said that Brussels would analyse the operation based on the turnover figures. He said that the Commission "will act firmly" if it finds that the deal compromises competition.
"I expect the European Commission to analyse the operation, considering the numbers and the companies involved, but I am certain the Commission will act firmly if it identifies any competitive obstacles created by the proposed deal," Rodrigues said in response to Chega MP Filipe Melo.
On 8 January, Galp and Moeve announced an agreement to potentially integrate their downstream refining and petroleum processing businesses in the Iberian Peninsula. The plan involves creating two European energy platforms: one industrial and another focused on mobility.
On Monday, Galp co-CEO João Diogo Marques da Silva told Lusa that there are no particularly "difficult" points in the merger negotiations, though he acknowledged the timetable remains tight.
"I would not say it is an easy calendar, it is tight, but we maintain the intention to sign this transaction by mid-year," he said.
When questioned about concerns that the deal could compromise Portugal's energy sovereignty or independence, should the Sines refinery pass into Spanish hands, co-CEO Maria João Carioca said Galp has heard "both sides."
"The best way to ensure sovereignty is to guarantee that, in the long term, assets are well-maintained, developed, and that the energy transition is carried out under good conditions," she said.
According to Carioca, the discussion should be viewed as a "conversation about the future and investment," in a context where Europe increasingly recognises the importance of scale, flexibility, and investment.
JNM/RYOL // AYLS
Lusa
