By Thomas Gualtieri | Updated on Oct 09, 2026 at 11:23 AM
Portuguese oil company Galp Energia SGPS SA is weighing a sale of its residential clients portfolio, according to people with knowledge of the matter.
Galp is considering selling the entire business, formed by about 430,000 customers across Iberia, said the people, who asked not be identified discussing non-public information. Galp supplies natural gas, liquefied petroleum gas, and electricity to residential customers.
Deliberations are at an early stage and there’s no certainty that Galp will decide with a sale, the people said.
A spokesperson for Galp declined to comment.
The Portuguese firm is in the midst of a wide transformation of its corporate structure. It’s working on combination of its refinery business and gas stations operations with those of of Moeve SA, and is also considering strategic options for its renewable energy assets, Bloomberg reported earlier this month.
By moving the refineries and stations into the venture with Moeve, Galp’s remaining business will become far more focused on exploration and production, which currently accounts for more than 60% of profit. The downstream business represents about a third, while the commercial division, which includes the residential customer portfolio, is responsible for about 9%.