Latest news and stories about energy sector in finance in Setúbal, Portugal for expats and residents.
The Association for Economic and Social Development (SEDES) has urged the Portuguese government to protect the Sines refinery's strategic viability amid concerns over the Galp-Moeve merger, emphasizing the state's authority to safeguard critical national assets.
Former ministers and experts urge the Portuguese government to intervene in the Galp-Moeve deal, warning that failure to act could result in the loss of national control over the Sines refinery, reduced market competition, and increased financial burdens on taxpayers.
The Association for Economic Development (Sedes) argued that the Galp-Moeve agreement affecting the Sines refinery has serious implications for the country and stressed that the State has the power to safeguard strategic assets.
The question that truly matters is not the nationality of those who control Sines. It is another: whoever the owner is, do the rules governing price formation change?
The merger of the downstream portfolios (which include refineries and service stations) of Galp and Moeve, which the Portuguese oil company now expects to close in the second half of the year, does not alarm the Alves Bandeira Group, which even anticipates “opportunities” to add stations and resellers at the end of the operation. Rui Bandeira believes that the State “will have...
The Minister of Economy and Territorial Cohesion said today that it would be better if the Sines refinery remained under control from Portugal, but he recognised that the negotiations between Galp and Moeve are taking place between two private companies.
It is an agreement that could lead the Sines refinery to join a joint venture. Also in this bulletin: the campaign for the presidential election and Donald Trump's threats to Iran.
Galp will be a minority shareholder in the company that will own the Sines refinery. Decisions will be negotiated so the Portuguese side carries greater weight. Managers say the government was informed of a merger that preserves the Galp brand.
