Galp

What Galp does

Galp Energia, SGPS, S.A. is a Portuguese integrated energy group headquartered in Lisbon and listed on Euronext Lisbon, with majority ownership held by the Portuguese state through Parpública. Founded in 1999 from the liberalization of Portugal's petroleum sector, Galp operates across the full energy value chain: upstream oil and gas exploration and production in Brazil (Bacalhau FPSO in the Santos Basin with 220,000 bpd nameplate capacity and estimated recoverable reserves exceeding 1 billion barrels), Angola, Namibia (Mopane and Venus discoveries in the Orange Basin) and Mozambique (stake in Coral South FLNG); midstream refining through three Iberian refineries with combined crude processing capacity of approximately 700,000 barrels per day; and downstream retail via 3,500+ service stations across Portugal and Spain, supplemented by industrial and commercial supply of aviation, marine and rail fuels, lubricants, LPG, natural gas and electricity.

Beyond hydrocarbons, Galp is building a renewables and low-carbon platform anchored by approximately 2 GW of installed wind and solar capacity in the Iberian Peninsula, a 100 MW PEM electrolyzer green hydrogen unit at the Sines refinery (delivered with Plug Power, producing up to 15,000 tonnes per year of renewable hydrogen), and a SAF/HVO biorefinery scheduled to start-up by the end of 2026. The company is also in non-binding merger discussions with Moeve (formerly Cepsa) to consolidate Iberian downstream into IndustrialCo and RetailCo, and has restructured its Namibia exposure via an asset swap with TotalEnergies to optimise operatorship across PEL 83, 56 and 91. Customer-facing offerings include the Mundo Galp loyalty app, the Galp Flota fleet card family (Business, Corporate and standard tiers) for B2B customers across 1,200+ stations, and dedicated industrial sales teams serving airlines, large fleet operators and maritime operators across Europe and Africa.

Galp generated approximately €22 billion in FY2025 revenue with €3.0 billion in full-year EBITDA, employs more than 7,000 people across 10 countries and 52 nationalities, and in 2026 announced a €250 million share buyback programme alongside ongoing capital rotation between Iberian solar (divestment of 525 MW to Ignis) and wind (acquisition of 351 MW from Helia Funds).

Name

Galp

Legal name

Galp Energia, SGPS, S.A.

Website

https://galp.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Galp is a Portuguese integrated energy group spanning upstream oil and gas, Iberian refining (~700,000 bpd), 3,500+ retail stations, ~2 GW renewables, and emerging green hydrogen, serving consumers, fleets, airlines, and industrial customers.

Ownership category

akta.pro rank

Product category

Integrated Oil, Gas and Renewable Energy

NAICS

Natural Gas Distribution (22121), Solar Electric Power Generation (221114)

SIC

Natural Gas Distribution (4924), Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Local Distribution Company (LDC) Natural Gas Distribution Utilities (TLAGADAA)

Keywords

• Integrated energy services
• Oil refining distribution
• Renewable energy generation
• Fleet fuel management
• Upstream exploration production

Headquarters

HQ city

Lisboa

HQ country

Portugal

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Upstream Exploration & Production: Oil and gas production from offshore assets in Brazil (Bacalhau, Tupi/Iracema), Angola, and Namibia (Mopane, Venus discoveries). Generated record 111,000 boepd in 2025 with guidance of 125,000-130,000 boepd for 2026.
2. Refining and Marketing: Crude oil refining and fuel distribution across Iberian Peninsula through 3,500+ service stations, with refining capacity of ~700,000 bpd. Subject to cyclical refining margins and commodity price volatility.
3. LNG and Gas & Power: LNG position through stake in Eni-operated Coral South floating LNG facility in Mozambique Rovuma basin. Gas and power sales to commercial and industrial customers including electricity tariff offerings.
4. Renewables Generation: Solar and wind power generation through ~2 GW installed capacity portfolio across Iberian Peninsula. Power sold via PPAs and merchant arrangements.
5. Green Hydrogen: 100 MW green hydrogen production at Sines refinery for industrial decarbonization, with output partially replacing grey hydrogen consumption.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Galp is an integrated energy company that explores and produces oil and gas (upstream in Brazil, Namibia, Angola, São Tomé and Príncipe), refines crude at three Iberian refineries with combined ~700,000 bpd capacity, distributes fuel through 3,500+ service stations in the Iberian Peninsula, and increasingly generates renewable energy (~2 GW solar and wind) and green hydrogen. It serves both consumer and business customers with retail fuels, LPG, EV charging, residential solar, fleet cards, and industrial supply of aviation, marine, lubricants, gas and electricity.

Product overview

Galp is an integrated energy company offering a comprehensive portfolio across the energy value chain. The company's products include fuel products (Galp Evologic, Hi-Energy, HVOne renewable diesel), fleet management solutions (Galp Flota Business, Galp Flota, Galp Flota Corporate cards), consumer applications (Mundo Galp loyalty app, Galp Fleet Portal), alternative fuels (GLP Autogas, Gas Natural Vehicular, electric mobility charging), LPG products (Butano/Propano), renewable energy (Galp Solar panels, wind and solar generation assets), and industrial services (aviation fuel, marine fuel, chemicals, natural gas/electricity supply). The company operates upstream oil and gas production (Bacalhau FPSO in Brazil, Namibia Mopane/Venus, São Tomé), midstream refining (Sines refinery with SAF/HVO and green hydrogen production), and downstream distribution across the Iberian Peninsula and Africa.

Differentiator

Problem solved

Functional benefit

Brands

• Galp Evologic: Performance fuel additive product line for vehicles
• Galp Flota
• Galp Flota Business
• Mundo Galp
• Galp Solar
• Galp Evologic
• HVOne
• Galp Flota Corporate

Products and services

• Galp Evologic

Quantifiable outcome

• Record 111,000 boepd production in 2025 with guidance to reach 125,000-130,000 boepd in 2026
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• EDPcoreStrategic or Co-development Partner · 9 June 2026GreenH2Atlantic consortium with EDP and Hytlantic for green hydrogen project at former Sines coal-fired power plant site. Received €92 million EU funding; awaiting environmental permitting (RECAPE stage).
• GrenergyminorChannel Partner/ Reseller/ Distributor · 21 May 202612-year daytime power purchase agreement for solar output from Escuderos hybrid project in Spain, complementing Grenergy's 12-year tolling agreement with an international utility.
• EquinorcoreStrategic or Co-development Partner · 27 April 2026Bacalhau project partnership in Brazil's Santos Basin - Equinor as operator, alongside ExxonMobil and Pré-Sal Petróleo S.A. FPSO with 220,000 bpd capacity producing over 1 billion barrels estimated recoverable reserves.
• Helia FundsminorChannel Partner/ Reseller/ Distributor · 9 April 2026Acquisition of 351 MW onshore wind portfolio in Spain (17 wind farms) for €320 million equity value, adding to Galp's ~2 GW renewable capacity.
• TotalEnergiescoreStrategic or Co-development Partner · 30 January 2026Partnership in Namibia Orange Basin offshore oil development. TotalEnergies became operator of PEL 83 (Mopane discoveries) with 40% stake; Galp retained 40% and acquired interests in PEL 56 (Venus discovery) and PEL 91. Three-well exploration and appraisal campaign planned; Venus FID targeted for 2026.
• Plug PowercoreTechnology or Integration · 23 January 2026Installation of 100 MW PEM GenEco electrolyzers at Sines refinery - one of Europe's largest green hydrogen projects. Produces 15,000 tonnes renewable hydrogen annually, reducing emissions by 110,000 tonnes per year.
• Moeve (formerly Cepsa)coreStrategic or Co-development Partner · 8 January 2026Non-binding agreement to merge downstream operations (refining, chemicals, fuel retail) in Iberian Peninsula. Proposed IndustrialCo platform (~700 kbpd refining) and RetailCo (~3,500 stations). Target completion mid-2026 pending regulatory approvals.
• ShellminorStrategic or Co-development Partner · 19 September 2025Farm-in to Shell's offshore Block 4 in São Tomé and Príncipe. Galp acquired 27.5% stake; Shell retained 30% as operator. Exploration Block 4 partnership alongside Petrobras (27.5%) and national oil company (15%).

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Eni: Italy-based integrated energy major and Galp's partner on Coral South floating LNG in Mozambique's Rovuma Basin; comparable integrated model with Italian/Mediterranean downstream and African upstream exposure.
• Moeve (formerly Cepsa): Spanish integrated energy company with directly overlapping downstream (refining, chemicals, mobility) operations; counterparty in the proposed IndustrialCo/RetailCo JVs, making it Galp's most operationally similar Iberian downstream peer.
• Equinor: Norway-based integrated energy major and operator of Galp's partnered Bacalhau FPSO in Brazil's Santos Basin; comparable deepwater production expertise, transition portfolio diversification, and offshore operator capabilities.
• Repsol: Spain-based integrated energy major with directly overlapping upstream, refining, and Iberian retail footprints; Repsol is Galp's closest geographic and operational peer given comparable Iberian Peninsula scale and integrated business model.
• TotalEnergies: France-based integrated supermajor and Galp's partner in the Namibia Orange Basin; overlapping business models in exploration, LNG, refining, and renewables with similar scale and a comparable energy transition strategy.

Broad incumbents

• ExxonMobil: Global supermajor partnered with Galp on the Bacalhau FPSO in Brazil's Santos Basin; operates a massively larger integrated energy portfolio but shares deepwater Brazil exposure and refining/marketing franchise structure.
• BP: Global integrated energy supermajor comparable to Galp's integrated model with significant renewable and convenience retail investments, operating at substantially larger scale globally with overlapping transition strategy.
• Shell: Global supermajor partnered with Galp in São Tomé and Príncipe Block 4 (Shell as operator with 30% stake); similar integrated portfolio across upstream, gas, and renewables at materially larger scale globally.

Regional players

• EDP: Portuguese utility and Galp's partner in the GreenH2Atlantic green hydrogen consortium at Sines; comparable Iberian presence in renewables, gas distribution, and electricity supply with overlapping customer base.
• Iberdrola: Spain-headquartered global renewable energy leader; Iberian competitor in power generation with overlapping renewable energy strategies and overlapping customer segments across Iberia.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/galppress
• YouTubeyoutube.com/user/canalgalpenergia
• Facebookfacebook.com/levaportugalapeito
• LinkedInlinkedin.com/company/galp
• Instagraminstagram.com/galp

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Galp