Galp outlines investments for next five years; highlights ‘prudence’
Portugal’s Galp Energia said in a statement March 10 that for the next five years it plans to invest anywhere between 1.2-1.4 billion euros, which is just below its spending budget for this year, and that it will work in optimizing refining costs and better integrate its distribution.
“In the current context, the compromise to mobilize all areas to generate cash flow has been reinforced. In the area of refining, this means increasing efficency and optimizing costs, besides an increasingly bigger integration with distribution activities and the launching of innovative commercial solutions,” the company said.
The company said that it expects its current investments, mainly in Africa, will help it increase its overall production by up to 30% by 2020.
