Galp Energia Company News

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Galp To Start Drilling Exploration Well Offshore Portugal
Monday, July 02, 2018 Galp Energia is set to start drilling the country's first deep water offshore exploration well.

Galp Says Little Impact From Portuguese Refineries Strike
Thursday, June 14, 2018 Galp Energia's refineries continued to operate this week with little impact from a strike.

Galp Cuts Investment Plan, Sees Higher EBITDA Growth
Tuesday, February 21, 2017 Galp Energia cuts its spending target for the next 5 years by around 20% and trims its output growth forecast.

Eni Board Authorizes Investment for First Phase of Coral Discovery
Friday, November 18, 2016 Eni's board of directors authorizes the investment for the first phase of the development of the Coral discovery, located in the deep waters of the Rovuma Basin offshore Mozambique.

European Oil, Gas Companies Looking to Cut Costs Further
Monday, October 31, 2016 European oil and gas firms Eni, Total and Statoil all revealed in their latest financial results that they are looking to cut costs due to the continued low oil price environment.

Galp Sees Faster Brazil Oil Sector Development With More Access
Monday, October 24, 2016 The opening of new projects in the subsalt areas off Brazil's coast to operators other than the financially strained Petrobras is positive and should speed up development, Galp Energia CEO says.

Jefferies: OPEC Output Cut Unlikely
Tuesday, October 11, 2016 It's unlikely that OPEC will be able to maintain its planned output cut, according to oil and gas analysts at investment bank Jefferies.

Galp Reaches Agreement to Sell 22.5% Stake in GGND
Friday, July 29, 2016 Galp Energia reaches an agreement with a consortium led by Marubeni to sell a 22.5% stake in the share capital of Galp Gas Natural Distribuicao, S.A. (GGND), for $153 million (EUR 138 million).

Portugal's Galp Quarterly Net Profit Up 9%
Monday, February 08, 2016 Portuguese oil and gas firm Galp Energia posts a greater-than-expected 4Q profit of $166 million.

Galp Workers Union Calls Off Monday Strike and Goes to Court
Sunday, December 27, 2015 The union representing workers at Portugal's Galp Energia calls off a three-day strike at the company's refineries.

Petrobras Said to Consider Selling Carcara Pre-Salt Field Stake
Friday, December 04, 2015 Struggling Petrobras may include promising deep-water field in a divestment plan, say two people familiar with the issue.

Eni Sells Remaining Stake In Galp
Friday, November 20, 2015 Eni has sold its remaining 4% stake in Portugal's Galp Energia raising $348 million, Eni said.

Sepia East Field, Offshore Brazil, Declared Commercial
Friday, November 13, 2015 Petrobras has submitted a declaration of commerciality to the Brazilian government for the Sepia East field located in the Santos Basin.

Galp, Kosmos Awarded Sao Tome Block
Tuesday, October 27, 2015 Galp Energia and Kosmos Energy are awarded large stakes in Block 6, offshore Sao Tome and Principe.

Galp Energia Sees Improved 3Q Operating Profit
Monday, October 26, 2015 Galp Energia reports that its third-quarter operating profit improved by 8.6 percent.

Sound Oil Makes Board Changes
Monday, September 28, 2015 Sound Oil appoints 2 new non-executive directors following the resignation of Andrew Hockey and Gerry Orbell.

Brazil And Mexico Vie for Cash From Oil Explorers in Price Rout
Monday, August 31, 2015 Brazil and Mexico are preparing to compete for investments from some of the same oil majors when they hold auctions that are only a week apart at a time the price rout is prompting spending cuts.

Galp Produces Solid Results for 2Q 2015
Monday, July 27, 2015 Portugal's Galp Energia produces 'another solid upstream result' according to analysts who follow the firm.

Angola Requests Bids for 10 Onshore Oil Blocks
Monday, July 20, 2015 Sonangol requests prequalified bidders to submit bids for 10 onshore oil blocks, as Africa's second largest crude exporter aims to open up new exploration opportunities.

Galp: Cosco and BJC to Build Petrobras Oil-Platform Units
Thursday, June 18, 2015 China's Cosco and Thailand's BJC Heavy Industries have won a contract to build 24 natural-gas compressors for six oil platforms being built by Petrobras and its partners in two giant offshore oil areas, one of those partners says.

Petrobras, Galp, QGEP, Barra Confirm Large Brazil Oil Discovery
Friday, May 29, 2015 Petrobras, Portugal's Galp and Brazilian oil companies QGEP and Barra Energia have confirmed that the giant Carcara offshore find extends far beyond the initial discovery, Barra says.

Galp, Petrobras Return Caramba Oil Prospect
Thursday, May 28, 2015 Galp Energia and Petrobras return the Caramba oil block to Brazil's ANP regulator after finding it is not commercially viable.

Petrobras Abandons Deepwater Prospect In Brazil's Top Region
Wednesday, May 27, 2015 Petroleo Brasileiro abandons exploration at the Caramba prospect in a deepwater region that holds the country's biggest discoveries.

Galp Energia Sticking with Strategy for Stronger E&P Business
Tuesday, May 19, 2015 Investment bank Jefferies says Portuguese firm Galp Energia will continue with its strategy of strengthening its production activities, while supporting these with competitive downstream operations.

Galp's Upstream Business Hit by Fall in Oil Price
Monday, April 27, 2015 Portugal's Galp Energia reports that 1Q profits in its exploration and production business segment were hit by lower oil prices.

Portugal's Galp Chairman Proposes New Chief Executive
Monday, March 23, 2015 Galp Energia Chairman will propose Carlos Gomes da Silva as its new CEO after incumbent says he will not seek a new mandate.

Galp Sees Delays In Brazil From Petrobras Graft Probe
Wednesday, March 11, 2015 A widening corruption probe into Petrobras is likely to delay by at least one year four major offshore oilfield projects, Portuguese partner Galp Energia says.

Technip Wins Lula Alto Contract
Monday, March 02, 2015 Technip wins contract to supply flexible pipelines and associated equipment for the Lula Alto field offshore Brazil.

Technip Wins Brazilian Flexible Pipe Deal
Friday, November 21, 2014 French oilfield services firm Technip wins a deal to supply high-tech flexible pipes to the Iracema North pre-salt field offshore Brazil.

Energy Firm Galp's Profit More than Doubles, Beats Forecast
Monday, October 27, 2014 Portugal's Galp Energia posts a forecast-busting 112-percent increase in third-quarter profits.

Portugal Galp Profit Falls Less than Expected
Monday, July 28, 2014 Portugal's Galp Energia posts a smaller-than-expected fall in second-quarter net profit after a drop in its refining margins.

TAO-1 Well, Offshore Morocco, Drilling to Schedule
Monday, July 14, 2014 Galp Energia's TAO-1 exploration well, offshore Morocco, is drilling according to plan with Assaka and Trident objectives expected to be intersected by the end of August.

Galp Rig Mobilized for Moroccan Drill
Thursday, May 22, 2014 Galp Energia’s TAO-1 exploration well offshore Morocco is to be drilled by late June after the mobilization of the Ralph Coffman rig.

Saudi Aramco Extends Contracts with Rowan for 3 Jackups to Work in ME
Friday, April 25, 2014 Saudi Aramco extends contracts with Rowan for three jackups operating in the Persian Gulf for another year and at a higher day rate.

Galp Beats Expectations with Big Oil Output Increase
Tuesday, April 15, 2014 Portugal's Galp sees oil and gas output jump by more than 19 percent during the first quarter of 2014.

Portugal's Galp Ups Investment Plan to Support Output Growth
Tuesday, March 04, 2014 Portugal's Galp Energia raises its capital spending target for the next three-to-four years to support ambitious production growth plans in Brazil and Africa.

Portugal's Galp Beats Fourth-Quarter Profit Forecast
Monday, February 10, 2014 Portuguese oil and gas firm Galp Energia posts better-than-expected profits thanks to jump in refining margins and greater oil output.

Portugal's Galp Q1 Profit Drops 33 Pct As Diesel Unit Costs Rise
Monday, July 29, 2013 Galp profit falls, but the company expects third-quarter production to rise mainly thanks to Brazilian projects.

Galp Energia Sees Decline in 2Q Production
Tuesday, July 16, 2013 Galp sees 0.5 percent dip in second quarter production to 23,400 boepd.

Wingat-1 Well Disappoints
Tuesday, May 21, 2013 Galp Energia reports that Wingat-1 exploration well, offshore Namibia, has failed to find commercial oil.

ENI Upgrades Mozambique Gas Estimates
Wednesday, April 24, 2013 ENI upgrades estimates for gas finds offshore Mozambique after appraisal campaign.

Galp Plans to Drill 12 More Wells in 2013
Tuesday, April 16, 2013 Galp reports a 4.3-percent increase in first quarter production as it plans to drill 12 more exploration and appraisal wells during 2013.

Galp Plans 'Intensive' Drilling Campaign for 2013
Monday, February 11, 2013 Portuguese firm Galp Energia has scheduled several 'high impact' wells for 2013.

Tangiers: Tarfaya Well Could Be a Company Maker
Monday, February 04, 2013 Tangiers Petroleum says that 3D seismic data for its Tarfaya well, offshore Morocco, holds a potential 750 million barrels.

Brazil's HRT: Namibia Regulators Approve Stake Sale to Galp
Friday, January 25, 2013 Brazilian oil startup HRT Participacoes em Petroleo has received approval from Namibia's Mines and Energy Ministry for its sale of a stake in three offshore blocks to Portugal's Galp Energia.

Galp Sees 36% Increase in Production in 4Q 2012
Monday, January 21, 2013 Portugal's Galp Energia says net production for 4Q 2012 increased 36 percent to 17,700 barrels of oil equivalent per day.

Americas Ahoy for Floating Liquefaction?
Wednesday, April 25, 2012 The FLNG community are closely watching Shell's Prelude project in Australia's deepwater Browse Basin as it stands to serve as a template for the world's first floating liquefaction facility to exploit remote offshore gas reserves.

Santos Basin Extension Well a Success for Petrobras
Tuesday, April 10, 2012 Petrobras finds high potential of pre-salt reservoirs at an extension exploratory well located in the Iara Evaluation Area in the pre-salt of Santos Basin.

Galp to Invest $4.87B 2012-2015
Monday, March 14, 2011 Galp will invest $4.87B next year through 2015 as it ramps up spending to pay for the firm's share to develop massive oil fields offshore Brazil.

Petrobras Confirms Studying ENI Stake in Portugal's Galp
Tuesday, January 04, 2011 Petrobras confirmed that it's evaluating buying all of Italian oil major Eni's 33.34% stake in Galp Energia.