Operating in these EITI implementing countries:
Galp Energia is Portugal’s oil and natural gas integrated operator. Activities span from exploration and production of oil and natural gas to refining and marketing oil products, natural gas marketing and sales and power generation.
Engagement with the EITI
Galp Energia has published a clear public statement endorsing the EITI Principles and Criteria, and ensured this is accessible on its external website.
Galp Energia has disclosed the sums disbursed to state-owned entities in Brazil and Mozambique, in its Sustainability Report 2012, page 25.
Financial contribution to international management of the EITI*
Galp Energia contributed US$10,000 in 2012.
* The amounts said to be contributed to EITI are figures from the companies. For the audited EITI revenue figures, please consult the EITI financial accounts for that year.
Galp Energia’s official statement regarding EITI, published in its Corporate Sustainability Report:
The growth of Galp Energia’s upstream activity and the diversity of countries where it currently operates, covering every continent, bring important responsibility regarding transparency. In 2012, Galp Energia has kept its adherence and support compliance with the principles of the Extractive Industries Transparency Initiative (EITI) with the aim of improving transparency and promoting attempts to make the extracting industry more responsible.
"Transparency and good governance are fundamental guiding principles at Galp Energia. That is why our company sees the activity developed by the EITI as part of a major transformational movement towards the transparent governance of the financial resources generated by the oil and gas extraction business. Indeed, we support more countries joining the EITI, given its beneficial effects in the creation of a fairer and more transparent market.
Transparency requires everything to be clear and true, and in this way confidence is transmitted to all those involved. In this environment those involved have to be more responsible, so that local communities understand the importance of business investment for their sustainable development. For this reason, the involvement of civil society in the various EITI groups helps increase transparency when rendering the accounts. Indeed, the EITI is undoubtedly an example of the practice of multistakeholder sustainability, promoting the common good and healthy relationships between businesses, governments and civil society. That is why we will always support those who wish to establish more transparency in the oil and gas business."
Manuel Ferreira De Oliveira- Chief Executive Ofﬁcer Galp Energia
(Galp Energia Sustainability Report 2012, page 25)