Galp move

AFTER MOVING into Brazil and Angola, petrol and gas giant Galp is planning to expand into East Timor and Mozambique.

According to Galp executive president, Manuel Ferreira de Oliveira, the national oil and gas company is in negotiations with the Italian oil company ENI – a Galp shareholder with 33.4 per cent of its capital – and is considering buying some of ENI wells in Timor and Mozambique.

“We have laid down all the conditions to make our proposals acceptable” Oliveira said.

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