Portugal Sees Path for Galp-Moeve Deal With National Safeguards

Portugal is signaling it will allow Galp Energia SGPS SA to pursue a combination with Moeve’s Iberian refining and fuel-station businesses, but only with national safeguards in place. Economy Minister Manuel Cabral Santos also said the government’s priority is protecting the strategic role of Portugal’s only oil refinery. The proposed structure would balance competition goals with continuity of critical energy infrastructure, according to the stance described in the report. The discussion centers on whether regulators can design conditions that preserve refinery importance while letting Galp and Moeve integrate assets in Iberia, subject to review.