Galp Energia

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Galp Energia, SGPS, S.A.
TypeSociedade Anónima
Euronext: GALP
ISINPTGAL0AM0009
IndustryPetroleum industry
Predecessor
FoundedApril 22, 1999 (1999-04-22)
HeadquartersRua Tomás da Fonseca
Torre C 1600-209
Lisbon,
Portugal
Key people
Paula Amorim (Chairman),
Andy Brown (CEO)
ProductsOil and gas exploration and production, natural gas transportation and distribution, oil refining, electricity generation
ServicesFuel stations
Natural gas heating
Revenue€15.204 billion (2017) [1]
€1.063 million (2017) [1]
€602 million (2017) [1]
Total assets€12.358 billion (end 2017)[1]
Total equity€6.080 billion (end 2017)[1]
Number of employees
6,389 (2021)[1]
SubsidiariesGalp Energia E&P BV
Petróleos de Portugal - Petrogal, S.A.
Galp Gas & Power SGPS, S.A.
Galp Energia, S.A.
Websitewww.galp.com
Footnotes / references
[2][3]

Galp Energia, SGPS, S.A. is an multinational energy corporation, headquartered in Lisbon, Portugal.[4] Galp consists of more than 100 companies engaged in every aspect of the oil and natural gas supply, hydrocarbon exploration and production; refining, trading, logistics and retailing; co-generation and renewable energy. Galp was founded in 1999 through the merger of Petrogal, Gás de Portugal and Transgás.

History[]

Galp can trace its origins back to 1848 and the installation of Lisbon's first gas street lamps, but the current incarnation was formed through the merger of Petrogal, Gás de Portugal and Transgás, on April 22, 1999. The main historical business components include SACOR, CIDLA, SONAP and PETROSUL.[5]

SACOR was one of the first Portuguese oil companies. In 1954, SACOR's activities extended to Portugal's overseas territories; 80% of the gasoline, kerosene, and gasoil transported into the Portuguese overseas province of Angola had to be refined on continental Portugal's territory.

The Portuguese discovered oil in their overseas province of Angola in the 1950s. Portuguese-run Sociedade de Lubrificantes e Combustiveis (ANGOL) was set up in 1953 in Portuguese Angola. By the 1960s, it was also participating in the exploration for hydrocarbons. In 1957, SACOR participated in the establishment of another oil company, MOÇACOR, in the Portuguese overseas province of Mozambique.

After the Carnation Revolution military coup in 1974, Portugal handed over power to its overseas provinces. In Portugal, PETROGAL was formed in April 1976 from four Portuguese companies (SACOR, CIDLA, SONAP, and PETROSUL) that were nationalized following the revolution of April 1974. Galp Energia's initial public offering on the Lisbon Stock Exchange took place in the second half of 2006.

Operations[]

Galp Energia, SGPS, S.A. is organized into four business units, which include, Upstream, Refining & Midstream, Commercial, and Renewables & New Businesses.[6] The company carries out these operations through four subsidiaries, including:

  • Galp Energia E&P BV and its subsidiaries engage in the development, exploration and production of oil and gas and biofuels.
  • Petróleos de Portugal - Petrogal, S.A. and its subsidiaries carry out activities in the area of crude oil refining and marketing.
  • Galp Gas & Power SGPS, S.A. and its subsidiaries operate in the natural gas, electricity and renewable energy sectors.
  • Galp Energia, S.A., a company that operates and integrates the corporate services.

References[]

  1. ^ a b c d e f "Annual Report and Accounts 2017" (PDF). galp.com. Galp Energia. Retrieved 16 May 2021.
  2. ^ "Company Profile: Galp Energia". Forbes. Retrieved 13 May 2021.
  3. ^ Waldersee, Victoria (January 13, 2021). "Former Shell Upstream Boss to Become CEO of Galp". oedigital.com. Offshore Engineer.
  4. ^ "Company Profile: Galp Energia, SGPS, S.A." Bloomberg.com. Bloomberg. Retrieved 16 May 2021.
  5. ^ "Our roots". galp.com. Galp Energia. Retrieved 16 May 2021.
  6. ^ "Organization". galp.com. Galp Energia. Retrieved 16 May 2021.

External links[]

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