Portugal’s Galp boosts refining 6.3% in Q1

摘要

Madrid—Portugal’s Galp Energia increased its refining throughput in the first quarter by 6.3% year on year to 21.53 million barrels as it brought online a new hydrocracker unit at its Sines refinery, the company said in a regulatory filing April 29. Galp said its refining business had benefited in the first quarter from improved refining margins and higher crude volumes processed. Overall utilization rate at the company’s two refineries was 73% in the first quarter, with medium and heavy crudes accounting for 73% of the total volume processed and light crude and condensates accounting for the remaining 27%. Hydrocracking and cracking margins both rose compared with the first quarter of 2012, by $0.80/b to $3.40/b and by $0.60/b to $0.50/b, respectively.