Posted by: Groundspeak Regular Member h_raky
N 38° 45.421 W 009° 10.572
29S E 484690 N 4289827
Quick Description: Galp, which owns the petrochemical and Gas de Portugal, an oil company is majority owned by the Portuguese (2005), with a significant stake in ENI's share capital (30%). Today is among the largest companies in Portugal
Location: Lisboa, Portugal
Date Posted: 12/24/2010 9:48:01 AM
Waymark Code: WMAC95
Published By: Groundspeak Regular Member GEO*Trailblazer 1
Views: 17

Long Description:
controls about 50% of trade in fuels in this country and the total refining capacity of Portugal. Recently adopted an aggressive strategy of expansion in the Spanish retail market and continues its activities in oil exploration in Brazil in partnership with Petrobras and Partex consortium and in Angola with Sonangol.
By the end of 30 years, Portugal was supplied petroleum products to various foreign companies such as Shell, Vacuum (which would become the Socony-Vacuum) and the Atlantic.
In 1933, it formed the National Oil Company (or SONAP), which was owned by foreign investors (60%) and the Portuguese State (40%), but that nothing has changed in the Portuguese scene of the fuel market.
The need to refine locally the oil is directly linked to the creation of Decree-Law No. 1947 of February 13 (the Petroleum Law), which, supplemented by Law No. 1965 of May 17 (Fitness Industry), creates conditions for subsequently be created on a Limited Company Fuel and Oil Refined (or SACOR) in 1937.

The SACOR choose Cabo Ruivo, the eastern part of Lisbon, which was traditionally an industrial area, to install its refinery, inaugurated on November 11, 1947. Due to the Second World War and the limitations of transport and export by sea, would undermine the refinery to reach its potential for refining (300.000t/ano). These problems were considered by the Portuguese State, which, through the Portuguese Institute of Fuel purchased four tankers (Gerez, Aire, and Marão Sameiro) that were not enough to solve the problem.
Deposits of Galp in Bobadela, Loures Oil companies and the state would, to June 13, 1947, constitute Soponata to overcome such difficulties, holding the SACOR half of the combined company.
After the war and the implementation of the new Law No. 1947, which favored those who refine in Portugal, the state would get SACOR half the market.

In 1953, it founded ANGOLA Angola (Sonangol today), followed in 1957 to Moçacor in Mozambique (still wholly owned by Galp) to distribute its products in that geography.
In 1958, the market SACOR introduce super gasoline, and set up three gas companies: Gazcidla for butane, propane for Procidla Lusoga and for city gas.
In 1959, the company created its SACOR navigation, SACOR the Seas, and this is the branch of the remaining SACOR.
In the years following the war saw a substantial increase in the fleet, the SACOR created a network of fueling stations across the country. Many of these stations shared the same design and are still easily identified by the arch that houses the pumps.

In the post-April 25, these companies, the more gas Lisbon (which was independent) were nationalized, taking their businesses overseas have been delivered to the former overseas provinces, with the remainder being created Petrogal (oil) and gas Portugal (gas). These were to be transformed into joint stock companies and would be created a management company (SGPS), Galp, which would be privatized. In 2005, Portgás (natural gas business in the north coast of Portugal) was sold on the EDP.
Rua Tomás da Fonseca, Torre C
Lisboa, Lisboa Portugal

Stock Ticker Symbol: Galp Energia, SGPS, S.A

Stock Market: Euronext, Euronext-Lisbon

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