Galp Energia acquires crude oil from several suppliers and processes it in its refineries at Sines and Matosinhos. These refineries have currently a total refining capacity of 330,000 barrels of crude oil a day, which equates to 20 per cent of the Iberian Peninsula's refining capacity.
The refined products are predominantly marketed in Portugal and Spain but also in Africa. From the current production, close to 80 per cent is sold under the Galp brand. The rest is sold to other operators and exported to several European and North American countries.
In 2008, Galp Energia completed acquiring Agip's and ExxonMobil's operations in the Iberian market for oil products. These transactions were part of Galp Energia's strategy for expanding its operations in the Iberian Peninsula: the Company's core market for distributing oil products. These acquisitions were vital as they raised the Company's capacity to place the products from its refineries. This helped stabilise sales and lower dependence on exports, where demand and prices are less stable.
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