Latest news with #Moeve
Business Wire
31-07-2025
- Business
- Business Wire
Behavox Expands Commodities Footprint with Moeve as Its Newest Customer
LONDON & MONTREAL--(BUSINESS WIRE)--Behavox, the leading provider of AI-driven compliance and communication surveillance solutions, is pleased to announce that Moeve, a global energy company with a commodities trading arm, has successfully gone live with Behavox's platform as part of its commitment to modernizing its surveillance and regulatory compliance oversight. This partnership marks another exciting milestone in Behavox's expanding presence in the commodities industry. The implementation was completed in June 2025, making Moeve the latest addition to Behavox's growing commodities customer base. While Moeve is leveraging Behavox's best-in-class AI risk policies, the focus remains on enabling key platform capabilities, including: Scenario Testing Lab - Enables ongoing, pre-deployment validation of AI models. Customers can continually test and refine risk policies using intuitive A/B testing tools that compare logic and outcomes with each upgrade or iteration. MI Reporting Suite - Provides real-time visibility into alert trends, model performance, and investigative outcomes. These insights are accessible through a self-service visual dashboard, supporting a wide range of compliance and oversight use cases. QA Alerting - A highly configurable feature that enables compliance teams to verify the accuracy of alert reviews and closures. Designed to support diverse QA frameworks, it delivers targeted oversight and accountability across a wide range of customer use cases. "We are thrilled to partner with Behavox as we continue to strengthen our compliance framework. Their approach to scenario testing and alert QA capabilities give us both improved visibility and control," said Rok Lasan, Head of Trading Compliance at Moeve. Behavox Chief Revenue Officer, Nabeel Ebrahim added, 'We're excited to welcome Moeve to our growing network of commodities customers. At Behavox, we focus not only on delivering cutting-edge AI-enabled risk detection, but also on ensuring seamless data integration, an intuitive user experience, and the transparency modern compliance teams need to succeed. Moeve's forward-thinking approach to compliance makes them an ideal partner, and we look forward to driving meaningful, long-term value together.' Aishwarya Shastri, Commodities Trading Customer Success Manager at Behavox, commented: 'We take pride in our high-touch Customer Success model - designed to provide strategic, hands-on support throughout every stage of the relationship. As Moeve integrates Behavox into their compliance operations, our objective is clear: to be a long-term partner that continuously delivers value, adapts to their evolving needs, and helps them achieve their surveillance goals with confidence.' As Behavox continues to grow its presence in the commodities sector, partnerships like this reflect the industry's need for next-generation compliance platforms - not only powered by cutting-edge AI surveillance, but also designed to optimize the time, efficiency, and impact of compliance teams through continuously evolving features and tools. About Behavox Behavox is an AI company that transforms structured and unstructured corporate data into insights that safeguard and enhance businesses. Our proprietary technology and industry-specific LLM enables users to ask and answer questions without becoming domain experts, technologists, or data scientists. Our global client base includes banks, hedge funds, commodities firms, private equity firms, crypto firms and other non-financial companies. Equipping them with quality, cost-efficient insights, our solutions empower them to: Detect and address compliance risks Streamline and secure data archiving Predict and prevent regulatory breaches Turn big data into revenue Founded in 2014, Behavox is headquartered in London, with offices worldwide, including in New York City, Montreal, Seattle, Singapore, and Tokyo.
National Post
31-07-2025
- Business
- National Post
Behavox Expands Commodities Footprint with Moeve as Its Newest Customer
Article content LONDON & MONTREAL — Behavox, the leading provider of AI-driven compliance and communication surveillance solutions, is pleased to announce that Moeve, a global energy company with a commodities trading arm, has successfully gone live with Behavox's platform as part of its commitment to modernizing its surveillance and regulatory compliance oversight. This partnership marks another exciting milestone in Behavox's expanding presence in the commodities industry. Article content The implementation was completed in June 2025, making Moeve the latest addition to Behavox's growing commodities customer base. While Moeve is leveraging Behavox's best-in-class AI risk policies, the focus remains on enabling key platform capabilities, including: Article content Scenario Testing Lab – Enables ongoing, pre-deployment validation of AI models. Customers can continually test and refine risk policies using intuitive A/B testing tools that compare logic and outcomes with each upgrade or iteration. MI Reporting Suite – Provides real-time visibility into alert trends, model performance, and investigative outcomes. These insights are accessible through a self-service visual dashboard, supporting a wide range of compliance and oversight use cases. QA Alerting – A highly configurable feature that enables compliance teams to verify the accuracy of alert reviews and closures. Designed to support diverse QA frameworks, it delivers targeted oversight and accountability across a wide range of customer use cases. Article content 'We are thrilled to partner with Behavox as we continue to strengthen our compliance framework. Their approach to scenario testing and alert QA capabilities give us both improved visibility and control,' said Rok Lasan, Head of Trading Compliance at Moeve. Behavox Chief Revenue Officer, Nabeel Ebrahim added, 'We're excited to welcome Moeve to our growing network of commodities customers. At Behavox, we focus not only on delivering cutting-edge AI-enabled risk detection, but also on ensuring seamless data integration, an intuitive user experience, and the transparency modern compliance teams need to succeed. Moeve's forward-thinking approach to compliance makes them an ideal partner, and we look forward to driving meaningful, long-term value together.' Article content Aishwarya Shastri, Commodities Trading Customer Success Manager at Behavox, Article content commented: 'We take pride in our high-touch Customer Success model – designed to provide strategic, hands-on support throughout every stage of the relationship. As Moeve integrates Behavox into their compliance operations, our objective is clear: to be a long-term partner that continuously delivers value, adapts to their evolving needs, and helps them achieve their surveillance goals with confidence.' Article content As Behavox continues to grow its presence in the commodities sector, partnerships like this reflect the industry's need for next-generation compliance platforms – not only powered by cutting-edge AI surveillance, but also designed to optimize the time, efficiency, and impact of compliance teams through continuously evolving features and tools. Article content About Behavox Article content Behavox is an AI company that transforms structured and unstructured corporate data into insights that safeguard and enhance businesses. Our proprietary technology and industry-specific LLM enables users to ask and answer questions without becoming domain experts, technologists, or data scientists. Our global client base includes banks, hedge funds, commodities firms, private equity firms, crypto firms and other non-financial companies. Equipping them with quality, cost-efficient insights, our solutions empower them to: Article content Article content Article content Article content
Reuters
28-07-2025
- Business
- Reuters
Spanish oil company Moeve's profit hit by 50-million-euro blackout cost
MADRID, July 28 (Reuters) - Spain's second-largest oil refiner Moeve, formerly known as Cepsa, said on Monday the massive power blackout that hit Spain and Portugal cost it more than 50 million euros ($58 million), and it was considering legal action. Adjusted net income dropped to 324 million euros ($378 million) during the first half of the year, while earnings before interest, taxes, depreciation and amortisation fell 33% from a year ago to 733 million. Both figures exclude one-off revenues and losses such as asset sales. The cost of halting and restarting its two oil refineries during and after the April 28 blackout dragged down core profit, the company said. It can take one or two weeks for such plants to be fully operational after shutdowns. "We're considering possible legal action once responsibility for the blackout has been determined," a company spokesperson said. Redeia-owned ( opens new tab Spanish grid operator REE has traded blame with power utilities for the blackout. A government report pointed to REE's failure to calculate the correct mix of energy as one of the factors hindering the grid's ability to cope with a surge in voltage that led to the blackout. Rival Repsol ( opens new tab, which operates five refineries in Spain, said the blackout and other smaller power-supply issues cost it 175 million euros in the second quarter. The Moeve refineries also halted for scheduled maintenance during the first six months of this year, which further reduced utilisation ratios, while refining margins narrowed to $6 a barrel in the first half from $9.20 a barrel in the same period a year ago. Owned by Abu Dhabi fund Mubadala and U.S.-based private equity firm the Carlyle Group (CG.O), opens new tab, Moeve rebranded last year to reflect its shift towards low-carbon businesses under an 8-billion-euro plan. It has sold 70% of its oil production assets since 2022, including operations in Abu Dhabi and South America. ($1 = 0.8597 euros)
Reuters
28-07-2025
- Business
- Reuters
Spanish oil company Moeve's profit falls on blackout impact
MADRID, July 28 (Reuters) - Spain's second-largest oil refiner Moeve, formerly known as Cepsa, said on Monday its net profit fell 19% in the first half of the year mainly due to the impact of a massive power blackout in April in Spain and Portugal on its refineries. Its net income dropped to 324 million euros ($378 million), while earnings before interest, taxes, amortisation and depreciation fell 33% from a year ago to 733 million euros ($855.92 million). The company attributed the core profit's decline mainly to the cost of halting and restarting its two oil refineries during and after the April 28 blackout. It can take one or two weeks for such plants to be fully operational after shutdowns. The Moeve refineries also halted for scheduled maintenance during the first six months of this year, which further reduced utilisation ratios. The company did not release an estimate of the cost of the outage, though rival Repsol ( opens new tab, which operates five refineries in Spain, said the blackout and other smaller power-supply issues cost it 175 million euros in the second quarter. Owned by Abu Dhabi fund Mubadala and U.S.-based private equity firm the Carlyle Group (CG.O), opens new tab, Moeve rebranded last year to reflect its shift towards low-carbon businesses under an 8-billion-euro plan. It has sold 70% of its oil production assets since 2022, including operations in Abu Dhabi and South America. ($1 = 0.8564 euros) ($1 = 0.8570 euros)
Yahoo
30-06-2025
- Business
- Yahoo
TotalEnergies acquires 25% interest in Block 53 offshore Suriname
TotalEnergies has announced the signing of an agreement with Spanish company Moeve (formerly CEPSA) to acquire the 25% interest held by Moeve in Block 53, offshore Suriname. This acquisition positions TotalEnergies as a partner in the licence alongside APA, which holds a 45% stake and operates the block, and Petronas, which owns 30%. Block 53 is situated directly east of Block 58, where TotalEnergies serves as operator with a 40% stake. The Block 53 licence encompasses the Baja-1 discovery, which was drilled close to the boundary of Block 58 by operator APA. The discovery was reported to contain 34m (112ft) of net oil pay when drilled to a depth of 5,290m (17,356ft) below sea level. This discovery can leverage existing infrastructure and extend the production plateau of the planned Gran Morgu project in Block 58. TotalEnergies announced the final investment decision for the Gran Morgu development in October 2024. TotalEnergies Americas exploration and production senior vice-president Javier Rielo said: 'This acquisition brings new resources to the development of our low-cost and low-emission Gran Morgu project. 'It also proves how TotalEnergies will leverage GranMorgu infrastructure to develop profitably additional resources and extend its production plateau, strengthening the position of the company in the offshore of Suriname.' The Gran Morgu development is estimated to hold more than 750 million barrels of recoverable resources and represents a significant investment of $10.5bn. With a 200,000bpd capacity, the Gran Morgu is expected to initiate production in the first half of 2028. The floating offshore production unit for Gran Morgu is expected to be one of TotalEnergies' largest projects to date. TotalEnergies has already invested more than $1.4bn in exploration activities in Suriname, reported Reuters. Suriname has yet to produce hydrocarbons but aims to replicate the success of neighbouring Guyana, where Exxon Mobil has discovered more than 11 billion barrels of recoverable oil and gas. Earlier this month, TotalEnergies acquired 25% interest in 40 offshore exploration leases in the US from Chevron. The offshore leases cover an area of approximately 1,000km² and are situated between 175km and 330km from the shore. "TotalEnergies acquires 25% interest in Block 53 offshore Suriname" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
