Lisbon, Feb. 3 2025 (Lusa) - The refining margin of Portugal's Galp Energia in the last quarter of 2024 swelled 12% from the previous quarter, to $5.20 per barrel of oil, but was down 15% from the same period last year, the company announced on Monday.

According to a trading update sent to Portugal's Securities Markets Commission (CMVM) on Monday morning, Galp's refining margin per barrel between October and December last year stood at $5.20, compared to $4.70 in the previous quarter and $6.10 in fourth quarter of 2023.

This is the third consecutive year-on-year drop in the refining margin.

In the first quarter of last year, the company had doubled its margin, as compared to the same quarter of 2023.

PD/ARO // ARO.

Lusa