ANP Authorizes Oil Company Galp to Trade Natural Gas in Brazil

ANP Authorizes Galp to Market Natural Gas in Brazil. The Company Already Achieved a Profit of R$ 166 Million Euros in the First Semester

The National Agency of Petroleum, Natural Gas and Biofuels (ANP) is bringing a new player to Brazil’s natural gas sector by authorizing, on Tuesday (3), the Portuguese company Galp to engage in the marketing activities of the product in the country. The authorization granted by the ANP was published in Tuesday’s edition of the Official Gazette of the Union.

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Better Understand ANP’s Authorization for Portuguese Oil Company Galp’s Activities

The measure was signed by Helio Bisaggio, Superintendent of Infrastructure and Movement of the ANP. It is worth noting that the authorization was granted 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’s authorization for natural gas marks another expansion of Galp’s activities in the country.

Galp already has a considerable presence in Brazil’s oil and gas exploration and production market. The 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 part of the Bacalhau consortium, operated by Equinor also in Santos.

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Oil Company Earns 166 Million Euros in 2021

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

In the first quarter of this year, results indicated a profit of 26 million. Regarding average net production, the company reported a 4% decrease at the beginning of the year, down to 125.1 thousand barrels of oil per day, compared to 130 thousand barrels in the same period last year.

Meanwhile, sales of petroleum products rose 9% between January and June 2021, reaching 7.2 million tons, and sales to customers grew by 2% to 2.9 million tons. In the natural gas sector, sales fell by 18%, while electricity sales increased by 25%. In the renewable energy sector, this semester saw a significant surge, reaching nearly 45 times higher, with 667 GWh recorded by June, compared to just 15 GWh during the same period last year.

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 its corporate obligations. The company operates in 11 countries and exports its products to over 50. Currently, the company has more than 6,300 employees spread across the globe and has a market capitalization of 12.6 billion euros.