EMEA News
Galp to Resume HSFO Supply in Portugal in August
First half year (1H24) earnings at Galp, the Portuguese energy company, held steady over the same period last year with earnings in the commercial sector which includes marine sales, edging up slightly by 2%.
Bunker sales for the period came in at 350,000 metric tonnes and were on target to meet estimated sales for the year.
The bunker department's move to provide clients with heavy fuel oil to those that want it is also on track.
"Everything is in place to have the HSFO at the beginning of August," bunker team lead Pedro Ornelas told Ship & Bunker. A firm date will be announced soon.
While the choice of alternative marine fuel to determine shipping's energy transition remains up in the air, the "one billlion dollar question", according to Ornelas, Galp's plans for the production of hydrogen and biofuels are moving ahead.
The firm's Sines refinery is being transformed to meet the needs of the energy transition.
"It's the biggest investment ever in Portugal in the production of green hydrogen and biofuels, and one of the biggest on a European scale," Ornelas explained.
It includes a 270 ktpa advanced biofuels unit and 100 MW of electrolysers for the production of green hydrogen.
"The project positions Portugal as a leader in hydrogen," he added.
But speaking to Ship & Bunker at the company's Atlantic Meeting in May, Ornelas said he was confident that "whatever the market decides", Galp's bunker department "will be able to supply it".
