Galp Energia SGPS S A : 2Q Oil Production Rose, Refining Margin Fell

By Giulia Petroni

Galp Energia SGPS S/A said Monday that upstream oil production increased while its refining margin fell in the second quarter.

The Portuguese energy company reported oil production of 118,600 barrels a day in the period, compared to 99,400 barrels daily the previous year.

Net entitlement production averaged 130,300 barrels of oil equivalent per day in the quarter, while the refining margin fell to $2 per barrel from $3 in the previous-year period.

Galp is scheduled to release second-quarter results on July 27.

Write to Giulia Petroni at [e-mail]