GALP : Results a shade above expectations but disappointment on guidance
>Upstream: stable output, but we will have to wait until 2025 for growth - Adjusted EBITDA for the upstream division came in 8% above expectations. However, the group issued a somewhat disappointing production guidance with stability forecast for 2023/2024 at 110 kboe/d vs 128 kboe/d in Q4 2022 and this in the wake of the announcement of the divestment of its assets in Angola. The group is guiding for production growth of 30% by 2026 vs 25% in 2025 previously which i...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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