Galp admits new investments in Sines but calls for greater regulatory predictability

Galp is considering new investments in Sines but requires a regulatory framework that allows for future fuel demand forecasting. The company emphasizes that additional investments are necessary to increase production capacity, as the refinery is currently operating near its maximum capacity. Galp highlights the importance of regulatory predictability and competitive conditions for investment decisions. The company is currently engaged in projects for green hydrogen and sustainable aviation fuels, aiming to meet national incorporation targets by 2030. However, it notes a lack of regulatory initiatives in Portugal compared to Spain, which has clearer incorporation goals until 2040. Galp welcomes the European Commission's strategic dialogue on refineries, viewing it as a recognition of the sector's importance for the economy and energy security.