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Galp can trace its origins back to 1848 and the installation of Lisbon's first gas street lamps, but the current incarnation was formed through the merger of Petrogal, Gás de Portugal and Transgás, on April 22, 1999. The main historical business components include SACOR, CIDLA, SONAP and PETROSUL.SACOR was one of the first Portuguese oil companies. In 1954, SACOR's activities extended to Portugal's overseas territories; 80% of the gasoline, kerosene, and gasoil transported into the Portuguese overseas province of Angola had to be refined on continental Portugal's territory.
The Portuguese discovered oil in their overseas province of Angola in the 1950s. Portuguese-run Sociedade de Lubrificantes e Combustiveis was set up in 1953 in Portuguese Angola. By the 1960s, it was also participating in the exploration for hydrocarbons. In 1957, SACOR participated in the establishment of another oil company, MOÇACOR, in the Portuguese overseas province of Mozambique.
After the Carnation Revolution military coup in 1974, Portugal handed over power to its overseas provinces. In Portugal, PETROGAL was formed in April 1976 from four Portuguese companies that were nationalized following the revolution of April 1974.
In March 2004, Galp proposed selling a 51 percent stake in Gas de Portugal to EDP; Eni agreed to buy the remaining 49 percent. In December 2004, the European Commission blocked the transaction. Galp Energia's initial public offering on the Lisbon Stock Exchange took place in the second half of 2007.In 2007, Galp bought Eni’s operations for marketing oil products in Portugal and Spain. In 2011, talks between Eni and Petrobras for the latter to buy Eni's 33.3 percent stake in Galp collapsed over the price of the stake. From 2012 to 2014, Eni continuously reduced its stake in Galp. In 2016, Galp and Petrobras broadened an existing cooperation accord to include offshore oil research and development projects and exploration and production partnerships.In 2020, Galp partnered with Spanish engineering firm ACS to create Titan Solar, a renewable energy joint venture, and bought solar power projects from ACS for 2.2 billion euros . By 2022, it bought the 24.99 percent it did not already own for 140 million euros .In 2021, Galp joined forces with battery developer Northvolt on Aurora, a joint venture to develop Europe’s largest lithium processing plant with a total investment of up to 700 million euros.
