Galp Sees 36% Increase in Production in 4Q 2012

Portugal's Galp Energia announced Monday that its net production for the fourth quarter of 2012 was 17,700 barrels of oil equivalent per day – a 36-percent increase on 4Q 2011. Galp said the strong performance was due to increased production from Brazil.

The firm also reported that crude processed during the quarter amounted to 18,791 barrels – down 12-percent on the previous quarter – while oil product sales to direct clients was down nine percent year-on-year at 2.4 million tons.

Galp added that natural gas volumes sold during the quarter were up 10 percent at 56.5 billion cubic feet.



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