GALP Energia obtained in 2015 an adjusted net profit of 639 million euros, an increase of 71.5% compared to 373 million achieved in msmo period 2014, the company announced today.
“the net result ‘replacement cost’ set of Galp Energia was 639 million euros, reflecting improved margins refining in Europe, increased oil and gas production and the growth of the natural gas market in the European markets, “said the Portuguese oil company a sent today to market communication.
in the fourth quarter the report of 2015 and reflecting the final accounts for the year, sent to the Portuguese Securities Market Commission (CMVM), Galp Energia stresses that the results achieved in 2015 were driven by “82% increase in oil and natural gas in Brazil” and the “recovery of European refining margins.”
oil informs that the total production (working interest) of oil and natural gas increased by 50% in 2015 to 45.8 thousand barrels of oil equivalent per day (kboepd). “
As for the production ‘net entitlement’, which” contributes more directly to results, “Galp Energia says that increased by 60%.
” natural gas sales totaled 7,665 million cubic meters (Mm3), in line with 2014, “the statement added.
the EBITDA (earnings before interest, taxes, depreciation and amortization” consolidated group totaled 1,564 million euros in a base ‘replacement cost adjusted’ (RCA), “the document continues.
in the announcement made this morning to the market on the results of 2015, Galp Energia also underlines the” investment of 1,283 million euros, of which 86% was earmarked for exploration and production activities, namely the construction of FPSO units and the development of Lula field / Iracema, Brazil, and block 32 in Angola “.
net debt stood at 1,699 million euros at the end of 2015, although the company said.
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