Galp Portugal

Galp Portugal Galp Portugal

Portuguese multinational energy corporation, Galp, and US-based energy storage system provider, Powin LLC, (Powin) have ...
11/02/2024

Portuguese multinational energy corporation, Galp, and US-based energy storage system provider, Powin LLC, (Powin) have partnered to install a 5MW/20MWh utility-scale battery energy storage system (BESS) at Galp's solar power plant near Alcoutim, in the southern region of the Algarve in Portugal.

Galp already operates several projects in the region with a combined capacity of 144MW, and this partnership marks Galp's maiden move in the hybridization of its solar power production portfolio. As for Powin, Alcoutim marks its inaugural project in Europe which could pave the way for Powin to emerge as a leading supplier of energy storage solutions in the growing market.

Galp (80%, operator), together with its partners NAMCOR and Custos (10% each), has successfully drilled, cored, and logg...
07/02/2024

Galp (80%, operator), together with its partners NAMCOR and Custos (10% each), has successfully drilled, cored, and logged a deeper target (AVO-2) of the Mopane-1X well in block PEL83.

In AVO-2, Galp has also discovered a significant column of light oil in reservoir-bearing sands of high quality.

The rig is expected to be relocated to the Mopane-2X well location to evaluate the extent of the Mopane discoveries, after which a Drill Stem Test (DST) is expected to be performed in Mopane-1X.

Galp will continue to analyse the acquired data during the coming weeks to assess the commerciality of the discoveries.

Galp Energia has moved aggressively into solar energy and onshore wind but has now made a preliminary move in offshore w...
04/02/2024

Galp Energia has moved aggressively into solar energy and onshore wind but has now made a preliminary move in offshore wind ahead of a keenly awaited Portuguese tender

Portuguese oil and gas company Galp Energia and French peer TotalEnergies are to explore potential offshore wind opportunities in Portugal together, ahead of that country’s planned push to rapidly build up 10 gigawatts of capacity in the sector.

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Galp, which has significant investments in Brazilian oilfields, has already heavily invested in solar energy projects in Portugal and Spain but has so far held back from commitments to the offshore wind sector.

TotalEnergies was an early mover into offshore wind among oil majors, as a partner in the 1.1 GW Seagreen-1 fixed-bottom offshore wind project in the UK, now nearing completion.

Portugal’s Galp partners TotalEnergies to explore offshore wind opportunities at home
04/02/2024

Portugal’s Galp partners TotalEnergies to explore offshore wind opportunities at home

Galp beats profit forecasts in second quarter on ‘strong’ oil and gas businessPortuguese oil major Galp posted higher th...
04/02/2024

Galp beats profit forecasts in second quarter on ‘strong’ oil and gas business

Portuguese oil major Galp posted higher than expected earnings in the second quarter of the year, supported by upstream production and trading activities.

The company reported adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of €916 million ($1.01 billion), down 26% on a year on year basis but well above analyst consensus of €800 million.

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