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You are here: Home > Investors > ... > Risk management > Risk management

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Risk management

Our businesses and their results are exposed to several risks including competition, economical, political, legal, regulatory, social, sector and financial risk

Investors are advised to ponder these risks as these may have, singly or jointly, a material impact on the results of Galp Energia's activities or its financial position. Steps taken by the board of directors to mitigate risks will be reported as deemed appropriate. The risks listed in this section do not constitute a complete account of the risks that may affect Galp Energia.

We detail in this section:

Risk management policy

Risk management policyGalp Energia is exposed to several types of risk, namely market and operations risks. The Company has established policies and practices to measure, manage and monitor its exposure to risks.

Market risks

Market risksGalp Energia's activities are exposed to several market risks, namely the fluctuation of prices of crude oil, natural gas and oil products, movements in exchange rates and the competition of other companies that operate in the energy sector.

Operational risk

Operational riskOperational risks to which Galp Energia is exposed include the risk of ongoing projects not being completed or the development of reserves not leading to the expected outcome.

Compliance

ComplianceThis type of risks includes the possibility that taxes and tariffs to which the Company is liable are altered or new policies and regulations are introduced in the countries where Galp Energia operates.

Treasury, credit and insurance

Treasury, credit and insuranceThese risks include the possibility that interest rates will vary, liquidity levels will fluctuate, receivables will not be collected or the employees' retirement plans will be underfunded.

Last update: 17 Jun 2011

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