Galp Q1 Profits Surge 41% Amid Oil Price Volatility (eco.sapo.pt)

• Net profit reached 272 million euros in Q1
• Performance bolstered by Middle East conflict-driven price spikes
• Increased operational production volumes

"Portuguese energy firm Galp recorded a 41% year-on-year increase in net profit, reaching 272 million euros in the first quarter of 2026. This financial performance was largely driven by higher oil production and price hikes resulting from regional instability in the Middle East. The firm's EBITDA showed significant growth, reflecting the current macro-economic environment where energy price volatility serves as a primary driver for major European fossil fuel providers."