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        GALP REFINACAO - PROJECTO DE CONVERSAO

        Signature(s)

        Amount
        € 500,000,000
        Countries
        Sector(s)
        Portugal : € 500,000,000
        Industry : € 500,000,000
        Signature date(s)
        30/06/2009 : € 200,000,000
        3/03/2009 : € 300,000,000
        Other links
        Related publications
        Non Technical Summary (NTS) of the Environmental Impact Assessment (EIA) - - PT
        Related publications
        Non Technical Summary (NTS) of the Environmental Impact Assessment (EIA) - - PT

        Summary sheet

        Release date
        17 July 2008
        Status
        Reference
        Signed | 03/03/2009
        20080053
        Project name
        Promoter - financial intermediary
        Galp Refinação - Projecto de Conversão
        Galp Energia SGPS SA, is engaged in the exploration, production, refining and distribution of petroleum products, the supply and distribution of natural gas and the generation of electric and thermal energy.
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        Up to EUR 500 million.
        Estimated at EUR 1300 million.
        Location
        Sector(s)
        Description
        Objectives

        Construction and operation of new oil processing units within existing refineries at Sines and Porto.

        The project will convert heavy and sulfurous oil products into low sulfur containing middle distillates such as diesel, products of which the Iberian peninsula and Europe as a whole is in deficit. Both refineries will be modified with a view to an integrated operation.

         

        Environmental aspects
        Procurement

        The project concerns the upgrading of existing refineries to improve competitiveness and to convert heavy oil products to high quality automotive fuels as required under European standards. It falls under Annex II of the EIA directive 85/337/EC and its amendments. Due to its technical characteristics and potential impacts on the environment EIAs are required by the environmental authorities in line with the provisions of the directive. Such EIAs are under preparation.

         

        The project is a private sector operation not subject to EU public procurement legislation.

        Other links
        Related publications
        Non Technical Summary (NTS) of the Environmental Impact Assessment (EIA) - - PT
        Related publications
        Non Technical Summary (NTS) of the Environmental Impact Assessment (EIA) - - PT

        Disclaimer

        Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
        They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

        General enquiries and comments

        The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
        Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
        Alternatively, the EIB can be contacted through its external offices.
        Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

        Media enquiries

        Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

        Complaints mechanism

        Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

        Zero tolerance against fraud and corruption

        The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

        Related publications