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Lusa - Business News - Portugal: Galp Energia - Q3 average oil production rises 21%




Lisbon, Oct. 8, 2019 (Lusa) – Oil and gas company, Galp Energia's average oil production grew 21% in the third quarter of the year in relation to the same period of the previous year, rising to 124,000 barrels per day, according to preliminary company data released on Tuesday.
The results, published on the website of the Portuguese Securities Market Commission (CMVM), aim to provide the macroeconomic, operational and commercial conditions to which Galp was subject in the third quarter of 2019.
In the information sent to the CMVM, the company stresses that the available data are preliminary figures and that all information is subject to change and may differ from the results to be published on 22 October.
The average production in the "working interest" indicator - gross production of raw material, especially oil, which includes all costs arising from operations - also recorded a growth of 21% compared to the same period last year, standing at 125,500 barrels per day.
Preliminary data for the third quarter of the year show an increase in oil production in Angola from 7,400 barrels per day in the same quarter to 12,700 barrels per day, an increase of 72%. This increase is "supported by the continuous ramp-up of Block 32″, in Angola the company explains.
In Brazil, Galp's exploration and production activity grew 17%, from 94,900 barrels per day in the third quarter of 2018 to 111,300 in the same period this year.
On the other hand, refining and distribution registered a 26% drop in processed raw materials and 13% in sales of refined products compared to the same period last year.
Total sales of natural or liquefied gas fell by 11% and sales to direct customers decreased by 6%, mainly due to lower volumes sold in the electro-producer and industrial segments.
During the third quarter of the year, planned maintenance operations were carried out at the Sines refinery, mainly focused on the atmospheric distillation unit, "having also implemented energy efficiency projects in key units of the refinery”.
Additionally, in September, there were "operating restrictions that resulted in lower use of the Sines refinery's conversion units".
SO/AYLS // AYLS
Lusa




Agency : LUSA

Date : 2019-10-09 03:25:02







 

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