Galp Refining Margin Triples to Record High in Q3
Portuguese energy group Galp announced that its refining margin reached $33.8 per barrel in the third quarter, more than tripling from $9.5 in the same quarter last year. The quarterly margin is the highest recorded in the company's history, up from $16.8 per barrel in the previous quarter. The surge was driven primarily by shifts in international markets and fuel supply tensions related to Middle East conflicts.
Galp is Portugal’s integrated energy company operating in fuel, natural gas, electricity retail, refining and upstream activities, and it supplies households and businesses across the country. For expats, issues at Galp—such as recent billing disruptions—can mean unexpected large utility bills or service problems, so check your account, contact the supplier and keep billing records.
