ZAP
Company closes the first quarter with a profit of 272 million euros; Oil prices increased because of the war.
A Galp closed the first quarter of the year with a profit adjusted from 272 million of euros, an increase of 41% compared to the same period last year, supported by the increase (14%) in oil and natural gas production in Brazil, with 129 thousand barrels per day.
Between January and March, earnings before interest, taxes, depreciation and amortization (EBITDA) also grew 41% to 943 million of euros, compared to the same period in 2025, the oil company said in a statement to the Securities Market Commission (CMVM).
Around 73% of this value came from the upstream business unit – exploration, development and production of oil and natural gas – “whose EBITDA increased by 78%, benefiting from the combined effect of a 23% increase in oil and natural gas production with the increase in the average Brent price”, he details.
The rise in profit is partly related to the war in Iranwhich increased oil prices.
The highlight is that the profit was 272 million euros and the EBITDA was 943 million exceed analysts’ forecastswhich just a week ago predicted net profit of 276 million euros and EBITDA of 890 million.
Galp announces that it is moving forward with the next oil exploration campaign in Namibia; and negotiations are underway towards fusion with the Moeve – which should result in an agreement by mid-2026.
