Galp takes careful approach to Brazilian bids

Galp takes careful approach to Brazilian bids

Corporate & Sovereign Strategy M&A Project & Infrastructure Finance Energy Gas Brazil Europe

Portugal's Galp Energia will adopt a cautious strategy in the transfer of rights auction in Brazil, scheduled for November this year. "We will approach Brazil in a very careful way," CEO Carlos Gomes da Silva said during a conference call to discuss the oil and gas company's second quarter results. "Brazil is starting to be relatively expensive," he said. "We have to do it in a prudent way, ensuring... that we will be able to have reasonable returns." Brazil's oil and gas regulator ANP published

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