Oil and Gas Market Overview - Oil prices rose by 4.7% to $73.96 per barrel, driven by optimism around Chinese stimulus plans [2] - Natural gas prices fell by 0.9% to $3.3540 per MMBtu due to milder weather forecasts [2][3] Major Industry Developments Galp Energia - Discovered oil and gas in Namibia's Orange Basin under Petroleum Exploration License 83 [3] - Mopane-2A well found hydrocarbon columns in AVO-3 (gas-condensate) and AVO-4 (light oil) reservoirs [3] - High-quality reservoirs with good porosity and permeability, low CO2 and no H2S concentrations [4] - Operates with 80% working interest, partners NAMCOR and Custos hold 10% each [5] Harbour Energy - Discovered hydrocarbons in Jocelyn South prospect in UK's Central North Sea [5] - Operator with 67% interest, partner Ithaca Energy holds 33% [6] - Gas-condensate found in Joanne sandstone reservoir at 12,620 ft TVDSS with 434 ft MD net pay [6] BP - Commenced gas production from Greater Tortue Ahmeyim (GTA) project in Senegal and Mauritania [7] - $4.8 billion FLNG facility to produce 2.3 million tons of LNG annually in initial phase [8] - Wells located at 2,850 meters water depth, gas transported to floating storage and processing vessel [8] Cheniere Energy - Achieved first LNG production from Train 1 of Corpus Christi Stage 3 Liquefaction Project [9] - Project completion at 75.9% as of Nov 30, 2024, with Train 1 expected to be substantially completed by Q1 2025 [10][11] - Seven midscale LNG trains to increase facility capacity to over 25 mtpa of LNG [10] Repsol - Restarted exploration in Libya's Murzuq Basin after a decade-long hiatus [11] - Spudded A1-2/130 well near Sharara oil field, planned depth of 1,844 meters [12] - Sharara field has production capacity of 320,000 barrels per day [13] Price Performance - Energy Select Sector SPDR rose 3.5% last week but edged down 1.2% over past six months [14] - Notable weekly stock gains: RIG (+12.2%), MPC (+5.2%), COP (+4.3%), OXY (+4%) [14] Future Market Focus - US government oil and natural gas statistics to guide commodity price trends [15] - Baker Hughes' rig count data to monitor US crude and natural gas production trends [15]

Galp Energia, SGPS, S.A. (GLPEY) , a Portuguese integrated energy firm, recently announced a remarkable discovery of oil and gas in Namibia's Orange Basin under its Petroleum Exploration License 83, which was successfully spudded in December 2024. The Mopane-2A well, part of an ongoing exploration and appraisal (E&A) campaign, discovered a hydrocarbon column of gas-condensate in the AVO-3 reservoir with a thin net pay in the reservoir and a hydrocarbon column of light oil in the AVO-4 reservoir.Both AVO-3 a ...

For Immediate ReleaseChicago, IL – December 13, 2024 – Today, Zacks Equity Research Marathon Petroleum (MPC) , Valero Energy (VLO) and Galp Energia (GLPEY) .Industry: Oil & Gas - RefiningLink: https://www.zacks.com/commentary/2382560/3-stable-refining-marketing-stocks-with-good-potentialThe Zacks Oil and Gas - Refining & Marketing industry faces a mixed outlook, shaped by both opportunities and challenges. Volatility in refining margins, driven by fluctuating crack spreads and global economic uncertainties, ...

The Zacks Oil and Gas - Refining & Marketing industry faces a mixed outlook, shaped by both opportunities and challenges. Volatility in refining margins, driven by fluctuating crack spreads and global economic uncertainties, creates short-term pressure. Turnaround activities and lower crude prices further weigh on operating efficiency. Rising costs, including wage pressures and expansion expenses, add complexity. However, steady demand growth for refined products like gasoline, diesel and jet fuel offers a ...

Galp Energia SGPS SA (GLPEY) , a Portuguese energy firm, has scrapped its plans to build the Aurora lithium refinery on the Portuguese coast in Setubal. The decision followed its failure in finding a partner to invest in the project after its previous partner in the venture, Northvolt AB, decided to quit. Details of the Partnership Northvolt AB, a Swedish battery developer and manufacturer, and Galp Energia had formed a 50-50 joint venture in 2021 to develop the lithium processing facility. However, at the ...

Galp Energia, SGPS, S.A. (OTCPK:GLPEF) Q3 2024 Earnings Conference Call October 28, 2024 7:00 AM ET Company Participants Otelo Ruivo - Head, Investor Relations Filipe Silva - Vice Chairman & Chief Executive Officer Joao Diogo Silva - Executive Director, Commercial Rodrigo Vilanova - Energy Management of the Executive Committee Ronald Doesburg - Executive Director, Industrial Maria Joao Carioca - Chief Financial Officer Conference Call Participants Biraj Borkhataria - RBC Capital Markets Matt Smith - Bank of ...

3Q24 Results October 28, 2024 1441 34 3Q24 Highlights Continued strong operational momentum 112 kboepd Upstream production1 22 mboe Refinery raw materials processed 1.9 mton Oil products sold to direct clients 853 gwn Renewable power generation e820 m RCA Ebitda e540 m OCF e229m Net capex 0.5 × Net debt to Ebitda | --- | --- | |-----------------------------------------------------------------------|-------| | | | | Delivering strong operating | | | performance despite lower | | | commodities prices & refini ...

For Immediate Release Chicago, IL – September 20, 2024 – Today, Zacks Equity Research discusses Valero Energy (VLO) , Murphy USA (MUSA) and Galp Energia (GLPEY) . Industry: Oil & Gas - Refining Link: https://www.zacks.com/commentary/2338587/3-refining-marketing-stocks-to-watch-amid-a-challengingenvironment In recent quarters, fuel margins for companies in the Zacks Oil and Gas - Refining & Marketing industry have declined, falling significantly below the peak levels seen in 2022. Although strong demand and ...

In recent quarters, fuel margins for companies in the Zacks Oil and Gas - Refining & Marketing industry have declined, falling significantly below the peak levels seen in 2022. Although strong demand and light product inventories should continue to support the sector, most operators anticipate subdued margins for the remainder of 2024. Additionally, rising costs due to persistent inflation are further squeezing profits. But on a somewhat positive note, the refiners are likely to benefit from robust gasoline ...

35 106 kboepd Upstream production1 Renewable power generation OCF 2Q24 Results July 22, 2024 9 _94 1.8 mton 779 gwh €849 m Ebitda RCA e-238 m Net capex 0.35 × Net debt to Ebitda Continued execution of mid and downstream transformation Balance sheet strengthened to support future investments 2Q24 Results 2 liabilities 106 kboepd 81 $/ьы Oil realisations 1.7 $/boe Unit production costs Contingent Mozambique farm-out c.$650 m Crystallising value to support higher-return growth options 2Q24 Results Bacalhau FPS ...