Galp made a profit of 608 million euros in the first nine months of the year. This is an increase of 86% over the same period last year and 187 million in the third quarter, up 16% but down from the 265 million registered in the second quarter of this year.
With these results, Galp makes a profit of around 2.25 million euros per day, mainly due to the increase in fuel prices, especially diesel, ahead of winter. Recall that at the beginning of the year, gasoline cost 1.7 euros per liter, and now it exceeds 1.9, and diesel cost 1.5 euros and now exceeds two euros per liter.
Galp announced in a statement to the Securities Market Commission that “third-quarter results reflect strong operating performance across all business segments, with upstream and industrial operations reflecting a favorable macroeconomic environment.”
Galp must pay a tax (33%) on excess profits – the difference between 2022 and the average of the previous three years – a “contingency tax” set by the European Commission and which in Portugal is called the temporary solidarity contribution.
Meanwhile, Galp announced the cancellation of another liquefied natural gas supply from Nigeria, but assured that it had already secured the purchase of this volume of gas on the market.
Author: Thiago Rebelo
Source: CM Jornal
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