Galp has set itself a target of becoming one of the top three firms in the Spanish oil and gas distribution business corresponding to its refining business’s market position, according to the news source.
Galp is also looking to acquire Repsol YPF’s assets in Bolivia and Brazil in a bid to expand its operations outside of the Iberian Peninsula, according to the firm’s CEO.
Manuel Ferreira de Oliveira, Galp Energia’s CEO, as quoted by Thomson Financial, said: We are not in a hurry to grow, nor do we have an expansion plan, but we will look at all the opportunities that come along, both for organic growth and through acquisitions.
