Galp Energia posted an adjusted net profit of EUR 114 million in the first quarter, a decrease of seven million over the same period 2015, the company said on Friday.
In reporting of quarterly results to the Portuguese Securities Market Commission (CMVM), Galp Energia said that, according to the International Financial reporting Standards (IFRS), net income was a negative 58 million euros, “including an effect stock of 92 million euros (due to the
the growth of production oil and gas in the first quarter contributed to mitigate the effects of the oil price drop.
According to the Portuguese oil company, the pace of growth in oil and gas production remained in the first three months of the year, with the startup of its fifth floating unit in Brazil, although it has not fully offset the decline in crude oil prices, settling the annual reduction in net income in seven million.
Total production oil and gas Galp Energia in the first quarter of the year increased 35.8% over the same period of 2015 to a daily average of 56,300 barrels, of which 52.9 were crude and the remaining gas.
After the delivery of this production due to countries where yields in return for the rights of exploitation and taxes in kind, the company got 53,700 barrels per day, plus 38.7% of the in the first three months of 2015.
EBITDA (earnings before tax, interest and amortization) adjusted totaled EUR 239 million, down 22% from the same period of 2015.
the refining margin fell to 4.1 dollars per barrel, which, according to Galp, is in line with international markets.
No comments:
Post a Comment