This configuration supports compliance with European fuel standards but leaves the system structurally exposed to transportation fuel demand trends. Contrary to expectations of a steady contraction, gasoline demand across the Iberian Peninsula has not been declining. Based on data from January-November 2025, this year’s annual rate of growth in Spanish gasoline demand jumped to 8%. Across Europe, stricter climate policy targets are becoming a central determinant of downstream strategy, pressing refiners to adapt even if near-term fuel demand remains resilient. For Moeve, the transaction consolidates control over a more diversified Iberian downstream system and provides access to a stable crude supply through Galp’s overseas portfolio.

Source: The North Africa Journal January 23, 2026 16:44 UTC