GALP : Q2 results slightly ahead of expectations – negative FCF and no interim dividend pending a final decision
>Upstream: affected by the fall of Brent, resilient production - In the upstream segment EBITDA came to € 204m, in line with our estimate and 6% higher than the consensus, marked by the fall in oil prices and a 16% rise in unit production costs to $ 2.8 boe q-o-q though they were down 39% y-o-y thanks to the 18% y-o-y growth in production. For the future, given the announced fall in capex of close to 50%, the group revised its production growth guidance for 2020 down ...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.