Galp refining unit seen boosting Q/Q profit before Q3
Berenberg says Galp’s refining unit is expected to post much higher quarter-on-quarter profit, supported by elevated product cracks, ahead of the Portuguese firm’s third-quarter results.
Galp Energia's refining unit is expected to post a much higher quarter-on-quarter profit, according to Berenberg analysts ahead of the Portuguese energy company's third-quarter results. The analysts said the unit is benefiting from elevated product cracks. Product cracks measure the profit margin from turning crude into petroleum products.