Galp Energia

Galp
Sociedade Anónima
Traded as Euronext: GALP
Industry Petroleum industry
Founded 1999
Headquarters Lisbon, Portugal
Key people
 Paula Amorim (Chairman), Carlos Gomes da Silva (CEO)
Products Oil and gas exploration and production, natural gas transportation and distribution, oil refining, electricity generation
Services Fuel stationsNatural 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 (2017)[1]
Website www.galp.com

The Galp Group is a Portuguese corporation which consists of more than 100 companies engaged in activities such as natural gas supply, regasification, transport, storage, and distribution; petroleum products exploration, production, refining, trading, logistics and retailing; co-generation and renewable energy. Its stock was partially listed on the Euronext Lisbon stock exchange in the second half of 2006.

History

SACOR, CIDLA, SONAP, PETROSUL, and PETROGAL were the main Portuguese companies from which current-day GALP was born.

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 2006.

References

  1. 1 2 3 4 5 6 https://www.galp.com/corp/Portals/0/Recursos/Investidores/SharedResources/Relatorios/EN/Annual_Report_and_Accounts_Galp_2017.pdf
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