July 31, 2019 |
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
Portuguese oil and gas company says Brazil is starting to become expensive