Cepsa rebrands as Moeve to mark shift away from fossil fuels

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Financial Times 1w ago

Cepsa rebrands as Moeve to mark shift away from fossil fuels - Financial Times

Quick Summary:

Other fossil fuel energy companies, such as Norwegian’s Statoil, now known as Equinor, have opted to rename themselves to symbolise a departure from an old identity tied to hydrocarbons.

In October, when announcing the company’s rebrand, he told staff that Moeve’s “unstoppable transformation” was based on the “reality” of the energy transition and would not be derailed by short-term political considerations.

Analysts have noted that Moeve’s greater ambition comes despite global oil majors scaling back their moves away from hydrocarbons, after the Russian invasion of Ukraine put energy security at the top of the political agenda.