Galp Energia. SGPS, S.A. : Galp Energia. SGPS, S.A.: Trading Update fourth quarter 2012

  Galp Energia. SGPS, S.A. : Galp Energia. SGPS, S.A.: Trading Update fourth
                                 quarter 2012

Galp Energia releases today the trading update for the 4th quarter of 2012,
with the following highlights:

  o Net entitlement production of 17.7 kboepd, up 36% YoY, following increased
    production from Brazil;
  o Benchmark refining margin of $1.4/bbl, a decrease of $2.5/bbl QoQ;
  o Crude processed of 18,791 kbbl, down 12% QoQ;
  o Oil products sales to direct clients of 2.4 million tons, down 9% YoY;
  o Natural gas volumes sold of 1.6 bcm, an increase of 10% YoY.

Trading update 4Q12

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Source: Galp Energia. SGPS, S.A. via Thomson Reuters ONE
HUG#1671695