THIRD QUARTER AND NINE MONTHS 2009 RESULTS NOVEMBER 12 2009 Extending success into new challenges Investor Relations
HIGHLIGHTS Third Quarter and Nine Months 2009 Results Investor Relations
THIRD QUARTER AND NINE MONTHS 2009 RESULTS HIGHLIGHTS EXPLORATION & Crude price recovered, but still down 49% YoY PRODUCTION REFINING & Refining environment partially offset by marketing resilience MARKETING GAS &…
9M09 NET PROFIT OF 179 MLN PROFIT & LOSS Mln 3Q09 3Q08 9M09 Operating performance YoY QoQ YoY hurt by current economic Turnover 3,257 3,970 (18%) +14% 9,050 (21%) downturn EBITDA 191 282 (32%) +47% 472 (35%) E&P 28 51…
SIGNS OF RECOVERY, BUT ENVIRONMENT STILL CHALLENGING KEY OPERATING DATA OPEC quotas still 3Q09 3Q08 YoY QoQ 9M09 YoY impacting working interest production Working interest production kbbl/d 14.3 15.5 (8%) +7% 13.6 (9%) Net…
BUSINESS OVERVIEW Third Quarter and Nine Months 2009 Results Investor Relations
CRUDE PRICE RECOVERED, BUT STILL DOWN 49% YOY MAIN DATA E&P Production levels 3Q09 3Q08 YoY QoQ 9M09 YoY impacted by OPEC cuts Working interest production kbbl/d 14.3 15.5 (8%) +7% 13.6 (9%) Net entitlement production kbbl/d…
REFINING ENVIRONMENT PARTIALLY OFFSET BY MARKETING RESILIENCE MAIN DATA R&M Light/heavy crude spread 3Q09 3Q08 YoY QoQ 9M09 YoY narrowed in the quarter impacting premium to Galp Energia refining margin /bbl 0.9 5.4 (83%) (43%) 1.6…
CONTINUED RECOVERY OF NATURAL GAS SUPPLY MARGINS MAIN DATA G&P Natural gas volumes up 3Q09 3Q08 YoY QoQ 9M09 YoY 16% QoQ NG supply total sales volumes M m3 1,293 1,464 (12%) +16% 3,482 (21%) Liberalized markets sales volumes M…
FINANCIAL OVERVIEW Third Quarter and Nine Months 2009 Results Investor Relations
3Q09 NET PROFIT RCA OF 78 MLN, UP 51% QoQ PROFIT & LOSS Financial results Mln 3Q09 3Q08 YoY QoQ 9M09 YoY decreased with higher average net debt partially Turnover 3,257 3,970 (18%) +14% 9,050 (21%) offset by lower interest…
CAPEX FOCUSED ON TRANSFORMATIONAL PROJECTS EXECUTION E&P Angolas capex CAPEX focused in Tmbua- G&P Mln -Lndanas development R&M works E&P 500 435 427 In Brazil, capex 400 channelled to Tupi field 300 211 Major portion…
SOUND CAPITAL STRUCTURE MAINTAINED FINANCIAL POSITION Mln Sept. 2009 Jun. 2009 Sept - Jun Dec. 2008 Sept - Dec Amount in work in progress justified by Fixed assets 3,941 3,824 +117 3,881 +60 development phase of Work in…
DEBT REIMBURSEMENT CALL FOCUSED AFTER 2012 Debt structure as of September 2009 64% 83% Net debt totalled 2.2 Bln 36% 17% Average M/L-term debt Floating Fixed Short-term M/L-term maturity of 4.1 years M/L-term M/L-term…
SHORT TERM OUTLOOK EXPLORATION & Positive impact in 4Q09 of Tmbua-Lndanas CPT project production PRODUCTION REFINING & Refining outlook still uncertain and dependent on economic recovery MARKETING GAS & Sines…
E&P TRANSFORMATIONAL PROJECTS Third Quarter and Nine Months 2009 Results Investor Relations
RAMP UP PRODUCTION FROM TMBUA-LNDANAS CPT CPT production started in Tmbua-Lndana CPT August and will ram-up in the following months Expected production of 90 kbpd in 2010 Peak production of 100 kbpd to be reached by…
TUPI EWT ONGOING The EWT has produced FPSO BW CIDADE SO VICENTE more than 1 Mboe with well flow rate limited to 20 kboepd Iracemas DST almost completed with encouraging test results Tupi NE well is appraising the reservoir…
THIRD QUARTER AND NINE MONTHS 2009 RESULTS NOVEMBER 12 2009 Tiago Villas-Boas Investor Relations Officer tiagovbgalpenergia.com T: +351 21 724 08 66 Extending success into new challenges www.galpenergia.com F: +351 21 724 29…
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