Galp Energia SGPS SA Announces Production Results for the Fourth Quarter Ended December 31, 2011
Galp Energia SGPS SA announced trading updates for the fourth quarter ended December 31, 2011. For the quarter the average net entitlement production of 13.0 kboepd, an increase of 6% quarter on quarter; Crude processed of 20,973 kbbl, up 1% quarter on quarter; Benchmark refining margin of -$0.6/bbl, a decrease of $0.20/bbl quarter on quarter; Oil products sales to direct clients of 2.6 million tons, down 5% year on year; Natural gas volumes sold of 1.41 bcm, an increase of 6% year on year.