Galp Says Q3 Refining Margins More Than Tripled to Record High
Galp Energia said its refining margins more than tripled year over year in the third quarter, reaching record highs as Middle East conflict tightened refined-product supplies and drove prices higher.
Galp Energia, Portugal’s oil and gas company, said refining margins rose to record highs in the third quarter, more than tripling from a year earlier. The company attributed the increase to tighter refined-product supplies amid the Middle East conflict, which drove prices sharply higher.