Supply & Trading
Galp manages the sourcing and the marketing of our equity crude oil and other raw materials, taking into account factors such as:
- Maximising the refining margin;
- Maximising equity crude asset value;
- Sourcing diversification;
- Specifications of the refining system.
For more information about Galp’s crude sourcing or equity crude marketing, please consult our Integrated Management Report here.
We diversify our crude sourcing by using suppliers from several countries. This policy mitigates potential impacts from possible events, particularly, geopolitical conflicts.
Galp’s supply and trading activities of oil products also account for the sale of the refining system’s production, both to Galp’s Commercial activities as well as to other operators in Iberia and in the export market.
In 2020, volumes sold totalled 13.9 mton, of which 6.2 mton were sold to Commercial, 2.8 mton to other operators and 4.9 mton were exported. Benefiting from the excellent location of our refinery, the U.S.A., particularly the East Coast, remains a relevant destination for the export of heavy gasoline components. Besides U.S.A., Spain and Gibraltar were also relevant destinations in 2020.