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Moeve
Moeve, formerly known as Cepsa, (Compañía Española de Petróleos, Sociedad Anónima, "Spanish petroleum company, S.A.") is a Spanish multinational integrated energy and petroleum company headquartered at Torre Cepsa in the Cuatro Torres Business Area in Madrid.
As of 2024, Moeve produced approximately 34,400 barrels per day (5,470 m3/d), reflecting its strategic shift after divesting upstream assets in Abu Dhabi in 2023. The company operates three refineries with a combined refining capacity of approximately 21.5 million tonnes per year.
As of 31 December 2024, the company’s share capital is primarily held by Cepsa Holding, LLC (61.36%), controlled by Mubadala Investment Company, a sovereign wealth fund of the government of Abu Dhabi, and Matador Bidco S.À.R.L. (38.41%), controlled by The Carlyle Group.
Moeve, which rebranded from Cepsa in October 2024, is undergoing a strategic shift toward low-carbon energy, focusing on green hydrogen, biofuels, and electric mobility, supported by an €8 billion investment plan.
Cepsa was founded in 1929 as a private company led by Francisco Recasens, with its first refinery located at Tenerife in the Canary Islands. Because of the Campsa state monopoly of fuel distribution, Cepsa sold its production to that company. It expanded to lubricant production in 1950 and petrochemical products in 1955. In 1964 it opened a factory in Portugal, and in 1967 it added a second refinery at San Roque de Cádiz. After relaxations of the state monopoly, Cepsa bought a portion of Campsa petrol stations in 1992.
In 1988, Abu Dhabi's International Petroleum Investment Company (IPIC) bought a 10% stake of Cepsa. Later Elf Aquitaine bought a 20% stake, and Cepsa became a publicly traded company in 1989. Cepsa bought a third refinery in Huelva in 1991, and entered the liquefied petroleum gas market in 1998. The company expanded to the United Kingdom, Netherlands, Canada, Algeria, Brazil, Colombia and Peru. In 2011 IPIC bought the full company for 267 million euros.
In November 2013, the firm agreed to buy Coastal Energy Co for around $2.21 billion.
The American private equity firm The Carlyle Group completed the acquisition of a 38.1% stake in Cepsa from Mubadala on 8 April 2019.
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Moeve
Moeve, formerly known as Cepsa, (Compañía Española de Petróleos, Sociedad Anónima, "Spanish petroleum company, S.A.") is a Spanish multinational integrated energy and petroleum company headquartered at Torre Cepsa in the Cuatro Torres Business Area in Madrid.
As of 2024, Moeve produced approximately 34,400 barrels per day (5,470 m3/d), reflecting its strategic shift after divesting upstream assets in Abu Dhabi in 2023. The company operates three refineries with a combined refining capacity of approximately 21.5 million tonnes per year.
As of 31 December 2024, the company’s share capital is primarily held by Cepsa Holding, LLC (61.36%), controlled by Mubadala Investment Company, a sovereign wealth fund of the government of Abu Dhabi, and Matador Bidco S.À.R.L. (38.41%), controlled by The Carlyle Group.
Moeve, which rebranded from Cepsa in October 2024, is undergoing a strategic shift toward low-carbon energy, focusing on green hydrogen, biofuels, and electric mobility, supported by an €8 billion investment plan.
Cepsa was founded in 1929 as a private company led by Francisco Recasens, with its first refinery located at Tenerife in the Canary Islands. Because of the Campsa state monopoly of fuel distribution, Cepsa sold its production to that company. It expanded to lubricant production in 1950 and petrochemical products in 1955. In 1964 it opened a factory in Portugal, and in 1967 it added a second refinery at San Roque de Cádiz. After relaxations of the state monopoly, Cepsa bought a portion of Campsa petrol stations in 1992.
In 1988, Abu Dhabi's International Petroleum Investment Company (IPIC) bought a 10% stake of Cepsa. Later Elf Aquitaine bought a 20% stake, and Cepsa became a publicly traded company in 1989. Cepsa bought a third refinery in Huelva in 1991, and entered the liquefied petroleum gas market in 1998. The company expanded to the United Kingdom, Netherlands, Canada, Algeria, Brazil, Colombia and Peru. In 2011 IPIC bought the full company for 267 million euros.
In November 2013, the firm agreed to buy Coastal Energy Co for around $2.21 billion.
The American private equity firm The Carlyle Group completed the acquisition of a 38.1% stake in Cepsa from Mubadala on 8 April 2019.
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