GALP : Slight disappointment on net income – impact of taxes in Brazil looms
>Upstream: resilient production but no growth in the medium term - Adjusted EBITDA for the Upstream division was in line with expectations. The group reconfirms its production guidance of 110 kboe/d in 2023-2024 despite a higher current production level of 120 kboe/d which benefits from a good performance in Brazil and the ramp-up in Mozambique. This production is then expected to increase by 30% at the end of the period around 2026 with the start-up of its new proj...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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