Cepsa, the second-largest oil company in Spain, is undergoing a significant transformation by changing its name to Moeve to signify a shift towards low-carbon businesses. This rebranding initiative is driven by the company's focus on sustainable energy and mobility under the leadership of Chief Executive Maarten Wetselaar. Owned by Abu Dhabi's Mubadala and Carlyle Group, Cepsa is committing 8 billion euros to invest in green hydrogen, biofuels, and electric mobility. The company aims for the majority of its profits to be derived from sustainable activities by the end of the decade. As part of its strategy, Cepsa has divested nearly 70% of its oil production assets and is undertaking projects like a 2 gigawatt green hydrogen facility and a significant biofuels plant in Andalusia. Founded in 1929, Cepsa currently employs approximately 11,000 people. The rebranding to Moeve will be gradually rolled out across its extensive network of service stations in Spain and Portugal. The company's ambitious plans signal a positive step towards a low-carbon future and emphasize its commitment to sustainable practices and profitability.