Press Releases


Galp allocates €6.5 million for response to the humanitarian tragedy in Ukraine - <ul> <li>Galp immediately donates &euro;2.5 million to the Red Cross and assumes the cost of fuel for humanitarian flights that will transport Ukrainian refugees to Portugal<br /> &nbsp;</li> <li>Set of initiatives includes partnerships for the supply of energy to shelter centers, school grants for young Ukrainians and a trainee program in the company specifically for Ukrainian refugees</li> </ul>
Galp to suspend Russian oil-product purchases -
Galp's Matosinhos refinery becomes a new city dedicated to innovation and the energies of the future - <ul> <li>Galp, the municipality of Matosinhos and CCDR-N agreed on a protocol to jointly develop an integrated solution aimed at creating an Innovation District that will renovate the area where the refinery was installed.</li> <li>The protocol also plans to allocate parts of the site on the perimeter of the refinery to in-stall a university campus.</li> <li>Galp will create a task force lead by Ana Lehmann, innovation and internationalization expert and former Secretary of State of Industry, to develop the urban requalification project for the entire area</li> </ul>
Galp's sustainability strategy wins gold medal in SP Global's Sustainability Yearbook - <ul> <li>Galp&#39;s performance in the environmental and social areas reached the highest values among peers in the Oil&amp;Gas industry.<br /> &nbsp;</li> <li>The criteria &quot;Climate strategy&quot;, &quot;Water-related risks&quot;, &quot;Labor practices indicators&quot;, &quot;Environmental report&quot; and &quot;Social report&quot; were the most important for the overall score of 82 points in one of the most complete yearbooks on corporate sustainability in the market.</li> </ul>
Galp opens Generation Galp trainee program in Portugal, Spain and Brazil - <ul> <li>Generation Galp covers for the first time applications to Professional and Polytechnic Edu-cation, challenging young talents to start their professional career at the company.<br /> &nbsp;</li> <li>Applications are open until the end of February and will allow participants to join different Galp business areas in Portugal, Brazil and Spain.<br /> &nbsp;</li> <li>About 70% of the generations of trainees who took part in this Galp programme since 1998 remain on the company&#39;s staff.</li> </ul>
Galp included in the Bloomberg Gender-Equality Index 2022 - <ul> <li>Membership reflects female leadership &amp; talent pipeline, equal pay &amp; gender pay parity, inclusive culture, anti-sexual harassment policies, and pro-women brand<br /> &nbsp;</li> <li>The index includes 418 companies from 45 countries, representing sectors such as financials, technology and utilities, aside from energy</li> </ul>
Galp and Northvolt establish joint venture ‘Aurora’ to develop a lithium conversion facility - <ul> <li>Galp and Northvolt set up joint venture &lsquo;Aurora&rsquo; to develop opportunities related to the fast-growing battery value chain</li> <li>With a 50/50 stake, the joint venture is engaged in the development of Europe&rsquo;s largest and most sustainable lithium conversion plant, to be located in Portugal, with an annual production capacity of up to 35,000 tons of lithium hydroxide and a start of commercial operations in 2026.</li> <li>The project is aligned with the Portuguese and European industrialization efforts related to the energy transition, and is a milestone in the development of a European battery value chain</li> <li>The joint venture will also continue to explore other business opportunities along the value chain, and is committed to adopt the most environmentally sound approaches throughout all activities</li> </ul>
DJSI recognises Galp as the most sustainable company in the world in its sector - <ul> <li>The Portuguese energy company leads the sustainability world ranking of the Dow Jones Sustainability Indices for the Oil &amp; Gas Upstream &amp; Integrated sector</li> <li>With the #1 ranking, Galp has obtained its highest score since featuring in these indices a decade ago, which distinguish the best practices in the environmental, social and governance fields</li> </ul> <p>Galp is the world&#39;s most sustainable company in the Oil &amp; Gas Upstream &amp; Integrated sector in 2021, according to the criteria of the Dow Jones Sustainability Indices (DJSI). The DJSI is one of the leading international benchmark indices for environmental, social and governance practices employed by world-leading companies in sustainability.</p> <p>This is the first time that the Portuguese energy company has achieved this distinction in its 10 years featuring in the DJSI ranking, thus improving its ranking, from the third place obtained in the 2020 evaluation.</p> <p>&quot;This recognition highlights Galp&#39;s strategy to progressively decarbonise its portfolio and operations. In Galp, we have been focusing both on improving the sustainability of our operations today as well as our investment in new, clean sources of energy, for the future. We believe in transparent reporting of our performance today as well as target setting for the long term. This acknowledgment recognises the progress we have made so far, as well as our path towards regenerating the future together with our customers and society&quot;, highlights Andy Brown.</p> <p>In the DJSI World ranking, Galp came first among the 54 companies evaluated.</p> <p>According to the 2021 results of the DJSI indices, Galp also leads in the specific categories of &quot;Climate Strategy&quot;, &quot;Water Related Risks&quot;, &quot;Environmental Reporting&quot;, &quot;Social Reporting&quot;, &quot;Labour Practice Indicators&quot; and &ldquo;Environmental Policy &amp; Management Systems&rdquo;.</p> <p><strong>About the Dow Jones Sustainability Indices</strong></p> <p>The DJSI Index was created in 1999 by S&amp;P, Dow Jones and SMA, as the first financial performance indicator for world-leading companies in terms of sustainability. The members of this Index are qualified as the companies most capable of creating long-term value to their shareholders, through an effective management of the risks associated with economic, environmental and social factors.&nbsp;</p>
Africa’s first deep-water floating LNG production unit ready to sail away to Mozambique’s offshore Area 4 - <ul> <li>The Coral-Sul project, expected to start production next year, will bring Mozambique into the small group of LNG producing and exporting countries</li> <li>Spanning 432 meters long and 66 meters wide, the unit weighs around 220,000 tons and has the capacity to accommodate up to 350 people</li> </ul>
Third quarter and first nine months results 2021 - <p><strong>Galp presents today its 3Q21 and first nine months results.</strong></p> <p>Galp delivered a robust set of results during this quarter, capturing the improvement in macroeconomic conditions, namely higher Brent prices, stronger international refining margins and favourable pool prices in Iberia. Our Ebitda surpassed &euro;600 m, in a quarter also marked by some operational challenges, which give us head room to further improve our performance in the future.</p> <p>Our cash delivery reflected a temporary effect related to our hedges to de-risk gas sourcing and supply prices, which were impacted by the recent volatility in natural gas prices. While our net debt to Ebitda ratio increased slightly above our target, we remain confident that Galp&rsquo;s cash flow profile will allow us to deleverage and the temporary nature of these effects should enable us to deliver a competitive shareholder remuneration related to 2021.</p> <p>We are delivering on our commitments to grow our established businesses while expanding our Renewables ventures by developing and securing access to funding for our low carbon businesses. We are thrilled to continue executing our proposed Renewables strategy, expanding in and outside Iberia with the entrance in Brazil, leaving our current portfolio at c.4.7 GW gross capacity. These are important times in Galp&rsquo;s history and I am confident that we are in the right path to thrive through the energy transition.</p> <p><strong>Andy Brown, Galp&rsquo;s CEO</strong></p>
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