GALP : Q2 earnings ahead of expectations. Multiple disposals and a cash profile likely to improve
>Upstream: Production exclusively in Brazil after recent divestments - Q2 2024 adjusted EBITDA for upstream division totalled € 531m and 4% below expectations. Production totalled106 kboe/d, and the group has adjusted its production guidance downwards from 115 kboe/d to >105 kboe/d for 2024 following the sale of its interest in Coral LNG in Mozambique and Angola. The group is now 100% exposed to Brazil in terms of production, where production costs are at their lo...Galp Energia is a holding company. Through its subsidiaries, Co. operates in the following segments: exploration and production, with activities relating to exploration, development and production of hydrocarbons, particularly in Angola, Brazil and Mozambique; refining and marketing, which owns refineries in Portugal and also includes activities relating to the retail and wholesale commercialization of oil products; and gas and power, which covers the purchasing, commercialization, distribution and storage of natural gas and electric and thermal power production. As of Dec 31 2014, Co. had proved and probable reserves of 638.0 million barrels of oil equivalent.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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