ANP authorizes Galp to sell natural gas in Brazil. The company has already made a profit of R$ 166 million euros in the first half alone

The National Agency of Petroleum, Natural Gas and Biofuels (ANP), is bringing a new player to the natural gas sector in Brazil, authorizing, this Tuesday (3), the Portuguese Galp to exercise the activities of commercialization of the product in the country . The endorsement authorized by the ANP was published in this Tuesday's edition of the Official Gazette.

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Understand better the authorization of the ANP for the activities of the Portuguese oil company Galp

The measure was signed by Helio Bisaggio, superintendent of Infrastructure and Handling at the ANP. It is worth mentioning that the guarantee was authorized only for the trade of natural gas and does not cover other products, such as Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG) in bulk. The ANP authorization for natural gas is yet another expansion of Galp's activities in the country.

The oil company Galp already has a considerable presence in the oil and gas exploration and production market in Brazil. The oil company is part of consortia that explore important fields and is also one of Petrobras' partners in the Tupi field, in the Santos Basin, and is also part of the Bacalhau consortium, operated by Equinor, also in Santos.

Oil company profits 166 million euros in 2021

Galp recorded profits of 166 million euros in the second quarter of 2021, managing to recover losses that exceeded 20 million in the same period last year. Already in relation to the last three months, the company achieved a profit of 140 million euros, 192 million more than in the same period last year, when it recorded losses of 52 million.

In the first quarter of this year, the results showed a profit of 26 million. In relation to the average net production, the company presented a drop of 4% at the beginning of the year, going to 125,1 thousand barrels of oil per day, when in the same period of last year the production closed with 130 thousand barrels.

Sales of petroleum products rose 9% between January and June 2021, reaching 7,2 million tons, and sales to customers grew 2%, reaching 2,9 million tons. In the natural gas sector, sales fell by 18%, and electricity sales increased by 25%. In the renewable energy sector, this semester had a big shot, reaching almost 45 times greater, with 667 GWh registered until June, when in the same period of last year it was 15 GWh.

Get to know Galp

The company operates a mix of energies focused on efficiency and sustainability, moving the world without forgetting its commitments to the future and the company's obligations. The company operates in 11 countries and exports its products to more than 50. Currently, the company already has more than 6,3 employees spread all over the world and already has a market capitalization of 12,6 billion euros.