Portugal’s Galp stood by its strategy to expand its renewables business despite the division still contributing only a minor part of the energy major’s overall earnings.
Galp joined a long list of energy majors posting record financials for 2022 as companies stood to profit greatly from the fallout of the energy availability and price shocks seen last year.
The company posted a 93% growth in net income for 2022 at €881m ($945m), against €457m in 2021.
