Galp | Press releases

Galp has cut carbon footprint by more that 500 ktons of CO2e in 2018 -

Galp leads Dow Jones Sustainability index in Europe, sticks to Top 3 of world’s most sustainable companies - Europe’s best and world’s nº3 Oil & Gas Upstream & Integrated company<br> World-leading score in the Environmental dimension<br> Galp has been a staple of the DJSI for a consecutive eight years

Galp Gas Natural and NOS test smart meters -

Brazilian oil and gas regulator approves Atapu and Sépia unitisation agreements - The Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP) approved the Unitisation Agreements (UA) related with the Atapu and Sépia accumulations. These had been submitted by the BM-S-11A and BM-S-24 consortia, respectively, along with Petrobras, for the Transfer of Rights area (ToR) and Pré-Sal Petróleo S.A. (PPSA) for Atapu open area.

International activity drives earnings - More than 82% of first-half Ebitda came from international activities. Oil and gas production rose 6% with contributions from added. production units in Angola and Brazilian ramp-ups. Cash flow generation rose 17% to €501 million; net debt reduced by 8%. Adjusted first-halp Ebitda rose 2%, to €1.1 billion.

International projects support earnings - More than 86% of first-quarter Ebitda came from international activities. Oil and gas production rose 8% with contributions from added production units in Brazil and Angola. Ebitda rose 9% to €494 million in the first quarter from a year earlier. Adjusted net income declined to €103 million as tax costs increase.

Second unit in Angola offshore Block 32’s Kaombo project starts production - The second unit installed in less than one year will double the project’s installed capacity to a combined 230,000 barrels of oil and gas. Total recoverable volumes are estimated at around 650 million barrels.

Humanitarian aid to Mozambique - The Galp Foundation will provide emergency supplies to support the Red Cross’s relief effort. Galp employees collect food and essential goods.

Brazil approves unitisation agreement for the Santos basin pre-salt Lula accumulation - The agreement redistributes the individual participations in a reservoir that extends beyond the BM-S-11 concession area, in which Galp holds a stake. Galp will henceforth hold a 9% stake in an wider area.

2018 earnings: International projects boost growth - More than 80% of 2018 Ebitda came from international activities. Oil and gas production rose 15% with contributions from added production units in both Brazil and Angola. Ebitda rose 4% to €493 million in the 4th quarter from a year earlier and increased 24% to €2.2 billion for the full year. Capex of €300 million in the last quarter of 2018 brings total capex for the year close to €900 million. Adjusted quarterly net income slips to €109 million while full-year net income rose 23%, to €707 million. Proposed dividend of €0.63 per share.

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Press Releases