Galp Energia

Infobox_Company
company_name = Galp Energia
company_type = SGPS
company_
company_slogan =
foundation = 1977
location = flagicon|Portugal Lisbon, Portugal
industry = Oil
Gas
products =
revenue = profitUS$ 17.3 billion(2008)
net_income = profitUS$ 1.06 billion(2008)
key_people = Manuel Ferreira de Oliveira (CEO)
parent =
subsid =
alliance =
num_employees = 5,798 (2008)
homepage = [http://www.galpenergia.com/ Galp Energia]
foot_notes = The Galp Energia Group is a Portuguese corporation which consists of more than 100 companies engaged in activities such as: natural gas supply, regasification, transport, storage and distribution; petroleum products exploration, production, refining, trading, logistics and retailing; co-generation and renewable energy. Its stock was partially listed on the Euronext Lisbon stock exchange in the second half of 2006.

History

SACOR, CIDLA, SONAP, PETROSUL, and PETROGAL were the main Portuguese companies from where current-day GALP was born.

SACOR was one of the first Portuguese oil companies. In 1954, SACOR's activities extended to Portugal's overseas territories; 80% of the gasoline, kerosene, and gasoil transported into the Portuguese overseas province of Angola had to be refined on mainland Portugal's territory.

The Portuguese discovered oil in their overseas province of Angola in the 1950s. Portuguese-run Sociedade de Lubrificantes e Combustiveis (ANGOL) was set up in 1953 in Portuguese Angola. By the 1960s, it was also participating in the exploration for hydrocarbons. In 1957, SACOR participated in the establishment another oil company, MOÇACOR, in the Portuguese overseas province of Mozambique.

After the Carnation Revolution military coup in 1974, Portugal handed over power to its overseas provinces. PETROGAL was formed in April 1976 from four Portuguese companies--SACOR, CIDLA, SONAP, and PETROSUL--that were nationalized following the revolution of April 1974. Galp Energia's Initial Public Offer on the Euronext Lisbon took place in 2006.

External links

* [http://www.galpenergia.com Galp Energia]