Galp Project Breakeven Price below $30 a barrel

15 March 2016

Portuguese oil company Galp Energia has a project breakeven price below $30 a barrel, making it one of the lowest cost producers in the industry, its chief executive said on Tuesday.

"Our projects breakeven price is below $30 a barrel and we have room to improve," said Carlos Nuno Gomes da Silva at Galp's capital markets day in London.

Brent crude oil prices are currently trading at around $39 a barrel.