Galp expands business in renewable

Last Tuesday (22), the Portuguese oil company Galp Energia projected annual investments from 1 billion to 1.2 billion euros up to 2022. The company seeks to expand its natural gas and renewable energy business and said in a statement that it should invest between 10% and 15% of the total in new clean energy businesses.

“More than 40% of our long-term investments are aimed at Capture opportunities in the context of the energy transition. This includes the Increase the weight of natural gas in our production mix and the development Of a competitive renewable generation business, “the company said.

Galp, which recorded in the third semester a net profit Of 131 million euros, operates mainly in the refining sector and has expanded Their presence in the oil and gas industry.

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