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Portugal’s Galp reports net loss of 52 mln euros as…

LISBON, July 27 – Portugal’s Galp posted a loss of 52 million euros ($60.82 million) in the second quarter of 2020 due to the impact of the coronavirus outbreak, which forced the oil group to shut its biggest refinery in the country as demand collapsed.

Galp said in a statement on Monday that coronavirus lockdowns in both Portugal and Spain caused “severe regional demand drops” but the month of June already showed “supportive signs”. ($1 = 0.8550 euros) (Reporting by Catarina Demony and Sergio Goncalves, Editing by Kim Coghil)

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