Oil and Gas

Portugal is joining France and Spain to fast-track its energy transformation away from oil and gas dependence. Portugal already generally has 50% of its energy needs met by renewables, (eolic, [...]

Since joining the euro in 1999 Portugal’s economy has grown at only around 1% per annum while it’s companies have relied heavily on European Union handouts. With growth currently at 2% and [...]

For five consecutive months, energy prices for Portuguese consumers were below the previous year’s levels. But the war in Iran and the surge in fuel prices have reversed this trend. [...]

The ongoing war in Iran prosecuted by the United States and Israel, and now drawing in Yemen with the threat of closing off another second vital straight – ‘The Gate of Tears’ – into [...]

After having drilled five offshore oil wells in Namibia in little more than a year, Portugal’s energy giant Galp is seeking credible partners to explore natural oil depots in the Mopane basin in [...]

Portuguese companies are concerned after warnings that the price of gas could go up by as much as 30%. The price of gas had already gone up by 18% in the last quarter of 2024 to an average of €44 [...]

Portugal’s oil and gas company Galp had its second best day on the Euronext Lisbon stock market yesterday since 2006 after it announced that it had struck oil off the coast of Namibia. Galp [...]

Portugal’s oil and gas giant Galp has announced that petroleum exploration in Namibia could be profitable for the company. The conclusion comes at the end of the first phase of oil exploration in [...]

Galp’s largest supplier of natural gas, Nigeria has failed to deliver the amounts agreed in a contract drawn up three years ago, despite efforts from the company, the Portuguese government and [...]

The Portuguese energy company Galp posted adjusted profits of €1.2Bn in 2023; an increase of 14% on the €881 million registered in 2022. The company’s adjusted EBITDA fell 8% in like-for-like [...]