Galp's profit rises 68% to 682 million in Q3

Galp reported a 68% increase in profit for Q3, reaching €682 million, driven by production growth in Brazil and refined product exports. Adjusted net income for the first nine months rose 54% to €1.49 billion, while IFRS net income fell 24% to €201 million in Q3. EBITDA also saw significant growth, with a 67% increase in Q3 to €1.52 billion. Oil production in Brazil hit a record 131,000 barrels per day, benefiting from rising Brent crude prices. The company ended negotiations with Moeve for a potential merger in refining and marketing, citing a lack of agreement, but remains confident in its downstream operations and future growth opportunities.