Galp Energia, SGPS Stock

Galp Energia, SGPS, S.A., an energy company, engages in the exploration, development, and production of oil and natural gas. The company’s activities are located in Portugal, Spain, Brazil, Angola, Venezuela, Mozambique, Cape Verde, Guinea-Bissau, Swaziland, Gambia, and East Timor.

Segments

Exploration & Production segment

The Exploration & Production business segment has projects worldwide. Its exploration activities are conducted in Angola and Brazil. The company’s production activities are concentrated in Angola. It portfolio includes 44 projects.

Refining & Marketing segment

The Refining & Marketing business segment transforms crude oil into refined products that the company distributes in its own network, mainly in the Iberian Peninsula. It also has a presence in the biofuels area. The company operates approximately 1,509 service stations.

The company also markets oil products in the African market in three development areas: West Africa, Southern-Indian Africa, and Southern Atlantic Africa. The company has refining capacity of 310 thousand barrels a day, shared between its two refineries located in Porto and Sines, on the Portuguese western coast. In 2008, crude oil was mainly imported from West Africa, North Africa, and the Middle East.

Gas & Power segment

The Gas and Power business segment covers the areas of purchasing, commercialization, and distribution of natural gas and power co-generation. The purchasing and commercialization of natural gas area supplies natural gas to large industrial customers with annual consumptions of approximately 2 million cubic meters, power generating companies, and natural gas distribution companies and UAG’s (natural gas distributors). Galp Energia also has long term purchase contracts with companies in Algeria and Nigeria.

The Natural Gas Distribution area, together with the natural gas distribution companies in which Galp Energia has a significant participation, sell natural gas to residential, commercial and industrial customers with annual consumptions of approximately 2 million cubic meters.

The Power area generates electric and thermic power and supplies power to large industrial customers. Galp Energia participates in five co-generation plants with an installed capacity of 80 MW. In addition, it participates in wind farms and combined cycle plants, which are in the investment phase.

History

Galp Energia, SGPS, S.A. was founded in 1999. The company was formerly known as Galp – Petróleos e Gás de Portugal, SGPS, S.A. and changed its name to Galp Energia, SGPS, S.A. in 2000.