Cepsa rebrands as Moeve to kick off new era

A phased rollout of the brand across corporate offices and service stations will begin in November.

Global energy provider Cepsa is changing its name to Moeve, marking a historic milestone in the company’s transformation. After 95 years, Compañía Española de Petróleos, S. A. (Cepsa) is rebranding to enter a new era of sustainable energy and mobility.

Today’s announcement will be followed by a phased rollout of the new brand across all service stations, beginning in November at a rate of 600 stations per year, eventually covering the company’s network of over 1,800 stations in Spain and Portugal.

This rebrand aligns with the company’s objective to accelerate decarbonization through an €8 billion investment strategy, of which over 60% will be dedicated to sustainable businesses including the production of green hydrogen, 2G biofuels, sustainable chemical products, and ultra-fast electric charging.

“Today is a proud moment for our family of over 11,000 professionals, as well as for our customers, partners, and stakeholders. I’m thrilled to share that, after more than 90 years as Cepsa, we are evolving into something new – Moeve – a brand committed to a sustainable future, with the majority of our profits set to come from sustainable activities by the end of this decade,” said Maarten Wetselaar, CEO of Moeve

Since launching its Positive Motion 2030 strategy in March 2022, the company has made significant progress on numerous projects and built an ecosystem of alliances with over 60 companies across various sectors to drive diverse value chains.

The company is developing the Andalusian Green Hydrogen Valley, the largest project unveiled to date in Europe, which will have a capacity of 2000 MW in 2030. The Palos de la Frontera (Huelva) 2G biofuels plans will soon be the biggest in southern Europe, with an annual production capacity of one million tonnes of SAF and HVO. Moeve’s service station network already has 160 operational ultra-fast charging points and is expected to end the year with 400 installed.

“Moeve is a distinctive name designed to lead customers, markets and society towards a brighter future. The brand’s new colours feature inspiring tones that challenge the status quo, breaking from tradition to pave the way for a world of sustainable energy and mobility, in line with our new strategy,” says Pierre-Yves Sachet, Head of Brand and Director of Mobility and New Commerce.

This year, the company continued its efforts to move away from oil with the sale of its exploration and production assets in Colombia and Peru. With the offload of its Abu Dhabi assets in 2023, the company has now divested close to 70% of its oil production assets compared to 2022. In August, it also announced the sale of its butane, propane and autogas affiliate (Gasib).

In 2023, Moeve acquired the Ballenoil brand in Spain to expand its fueling network. The 249 unmanned service stations will continue to operate under the Ballenoil brand.