Galp seeks alternative markets for gasoline exports

Galp Energia, a Portuguese oil company, is preparing for potential challenges in its gasoline exports to the United States. If U.S. President Donald Trump implements proposed tariffs of 25% on European goods, Galp's sales could be affected. However, the company believes it can find other markets for its gasoline. Ronald Doesburg, a member of Galp's Executive Board, stated that if U.S. demand decreases due to higher prices, Galp will adapt accordingly. The company's refinery in Sines typically produces around 2 million metric tons of gasoline each year, with 1.2 to 1.5 million tons exported to the U.S. The rest of the gasoline serves the local Portuguese market. Doesburg emphasized the global nature of the energy market, indicating that the company can redirect its gasoline production to different regions if needed. He assured that the impact of tariffs would be manageable, as Galp has successfully navigated trade disruptions in the past. Furthermore, Galp is committed to sustainability. By mid-2026, it plans to begin producing biodiesel and sustainable aviation fuel from waste materials at a new facility. This plant, constructed in partnership with Japan's Mitsui, will cost around 400 million euros and utilize green hydrogen for production. The facility aims to produce 270,000 tons annually, marking a significant step in Galp's transition to greener energy sources.