SUBSCRIBE
PROFILE

Galp Energia takes off on the stock market after a discovery in Namibia

Galp Energia experiences a spectacular rise on the stock market following the announcement of a major oil discovery in Namibia.

Share:

Galp Energia Bourse de Lisbonne

Subscribe for unlimited access to all the latest energy sector news.

Over 150 multisector articles and analyses every week.

For less than €3/week*

*For an annual commitment

*Engagement annuel à seulement 99 € (au lieu de 149 €), offre valable jusqu'au 30/07/2025 minuit.

SUBSCRIBE
The share price of Portuguese group Galp Energia rose by a spectacular 18.77% on the Lisbon Stock Exchange, reaching 19.05 euros at the opening. This surge followed the announcement of a significant discovery offshore Namibia. The potential of the Mopane deposit Drilling in January and March in the Mopane field,…

The share price of Portuguese group Galp Energia rose by a spectacular 18.77% on the Lisbon Stock Exchange, reaching 19.05 euros at the opening. This surge followed the announcement of a significant discovery offshore Namibia.

The potential of the Mopane deposit

Drilling in January and March in the Mopane field, in which Galp holds an 80% interest, revealed a potential of at least ten billion barrels of oil. “Namibia could become a new source of revenue for Galp, which currently holds major investments off the coast of Brazil and is also involved in a natural gas project in Mozambique’s Rovuma Basin,” it said in a statement.

Financial and strategic impacts for Galp

This discovery could significantly transform Galp’s financial and strategic structure. Already involved in projects in Brazil and Mozambique, the company is strengthening its global presence and diversifying its sources of revenue. For Namibia, this deposit represents an opportunity to become a substantial source of revenue, potentially accelerating its economic development and strengthening its position in the energy sector.

Impact on Galp’s earnings

In February, Galp announced that it would achieve a record profit of €1 billion in 2023, up 14% on the previous year. This new discovery could propel future profits even higher.

Galp Energia’s recent discovery offshore Namibia marks a potentially transformative period for the company and the region. It underlines the importance of diversification and innovation in the global energy sector.

  • Popular on energynews.pro
Occidental and Algeria Launch Two Studies to Assess New Oil and Gas Fields
Washington strengthens ties with Pakistan over minerals and hydrocarbons
RWE posts €2.1bn adjusted EBITDA in H1 2025 despite adverse wind conditions
Acen Australia files federal application for 1,760MWh battery in Queensland
Oman Unlocks $500 Million to Exploit Its Copper and Chrome Reserves
Bahrain signs strategic energy agreement with EOG Resources
Bahrain has signed an energy concession agreement with EOG Resources and Bapco Energies, reinforcing its national strategy and opening the way to new opportunities in oil and gas exploration.
Talos identifies new hydrocarbon reserve in the Gulf of Mexico
Talos Energy confirmed the presence of oil in the Daenerys area, located in the Gulf of Mexico, after a successful sub-salt drilling operation completed ahead of schedule.
Ithaca Energy doubles production in H1 2025 and raises its forecasts
Thanks to strong operational performance, Ithaca Energy recorded record production in the first half of 2025, supporting improved annual guidance and significant dividend distributions.
Oil prices rise after unexpected decline in US crude stocks
A surprise drop in US crude inventories and renewed focus on peace talks in Ukraine are shaping oil market dynamics.
Resumption of Russian Oil to Hungary Despite Tensions Linked to Ukrainian Strikes
The Druzhba pipeline has resumed flows to Hungary, while recent strikes raise questions about the energy interests at stake within the European Union.
Namibia: FPSO shortage and rig costs constrain the oil agenda
The resumption of Shell’s drilling operations and the advancement of competing projects are unfolding in a context dominated by the availability of FPSOs and deepwater drilling capacity, which dictate industrial sequencing and development costs.
Indonesia Energy enters the Brazilian market with a strategic exploratory agreement
Indonesia Energy Corporation signs a memorandum of understanding with Aguila Energia to identify oil and gas assets in Brazil, marking a first incursion outside its domestic market.
YPF Transfers Seven Oil Zones to Terra Ignis to Refocus Its Assets
YPF transfers management of seven conventional zones to Terra Ignis, marking a key step in its strategy to refocus on higher-value projects.
Viper Energy finalizes the acquisition of Sitio Royalties to strengthen its production
Viper Energy, a subsidiary of Diamondback Energy, has completed the acquisition of Sitio Royalties and is raising its production forecast for the third quarter of 2025.
Global Petrochemical Investments Projected to Reach USD 956 Billion by 2032
Driven by rising industrial demand and emerging capacities in Asia, the global petrochemicals market is expected to see sustained expansion despite regulatory pressures and raw material cost challenges.
U.S. Tariffs: India Increases Brazilian Crude Imports by 80% in 2025
Indian imports of Brazilian crude reach 72,000 barrels per day in the first half of 2025, driven by U.S. sanctions, and are expected to grow with new contracts and upstream projects between Petrobras and Indian refiners.
Russian Oil Deliveries to Hungary and Slovakia Suspended After Strike
Oil flows to Hungary and Slovakia via the Russian Druzhba pipeline have been halted, following an attack Budapest attributes to repeated Ukrainian strikes.
Resumption of drilling at Sèmè field: Benin restarts its oil production
After twenty-seven years of inactivity, the offshore Sèmè field sees operations restart under the direction of Akrake Petroleum, with production targeted by the end of 2025.
China: Refineries Increase Output but Maintain Crude Oil Surplus
In July, China maintained a crude oil surplus of 530,000 barrels per day despite high refining activity, confirming a stockpiling strategy amid fluctuating global prices.
Petrobras negotiates to increase capacity of three FPSOs in Brazil
Petrobras is holding talks with SBM Offshore and Modec to raise output from three strategic FPSOs, two already at full capacity, to capture more value from the high-potential pre-salt fields.
Obsidian Energy Repurchases $1.4 Million in Unsecured Bond Debt
The Canadian company finalized a partial repurchase of its high-yield bonds, well below the initially proposed amount of $48.4 million.
SNF acquires Obsidian Chemical Solutions and strengthens its foothold in the Permian Basin
SNF acquires Obsidian Chemical Solutions, a Texas-based SME specialized in chemical solutions for well completion. Transaction amount and conditions undisclosed, but the acquisition comes in a growing North American market.
U.S. Court Halts Transfer of 51% of YPF Shares to Creditors
A New York appeals court has temporarily frozen the enforcement of a ruling ordering Argentina to transfer 51% of YPF’s capital, pending review of the appeal filed by Buenos Aires.
Putin Signs Decree Paving the Way for Exxon’s Return to Sakhalin-1
A new Russian presidential decree could allow Exxon Mobil to reclaim its stake in Sakhalin-1, under strict conditions tied to Western sanctions and equipment logistics.
South African court blocks TotalEnergies oil project off Cape coast
The South African judiciary has revoked TotalEnergies’ authorization to explore a 10,000 km² offshore block, forcing the group into a new procedure that includes a public consultation.
Consent Preferences