Saturday, April 16, 2016

Galp sales fall 5% in the first quarter – Digital Journal

In a statement sent to the Portuguese Securities Market Commission (CMVM), the Portuguese oil company indicates that the average production of ‘net entitlement’ (net production attributable to the Company) reached 53,700 bpd (+ 9.1% than in the last quarter of 2015).

according to the update of the oil trading, refining activity distribution of petroleum products sales globally decreased 5.1%, with sales to direct clients to retreat 4.8%. In the ‘Gas & amp; Power ‘, Galp’s sales decreased by 15.2% over the fourth quarter of 2015, and sales to direct clients fell 9.9% compared to the same period of 2015.

preliminary data from the company – which publishes results on the 29th of April – the result of a period in which the average price of crude oil (dated brent) took a tumble 37.1% to $ 33.9 (USD ), while the refining margin (according to market data indicated by the company) declined 37.3% to $ 3.3 per barrel

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