Galp plans bilateral conversations on Namibia partnership: CEO

Galp plans bilateral conversations on Namibia partnership: CEO

Galp Energia, SGPS, S.A. has initiated bilateral conversations with potential partners for its asset in Namibia. The move follows the company's strategic objectives to secure a strong partnership with an experienced operator, ensuring a solid foundation for the Mopane project. During the second quarter of 2025, Galp shared data with a selected list of potential partners and collected non-binding offers, indicating significant progress in the partnership process [1].

The company's focus on Namibia aligns with broader strategic goals to enhance its operational footprint and diversify its business units. Galp's CEO emphasized the importance of this partnership, stating that the company aims to complete the process this year. The bilateral conversations are part of Galp's ongoing efforts to optimize revenue streams and enhance realized prices through ancillary services, as seen in its renewable energy sector where it brought online 115 megawatts from two new solar parks in Spain [1].

Meanwhile, Snow Lake Resources (LITM) has been advancing its uranium projects in both Wyoming and Namibia, supporting U.S. policies on national energy security. The company's Pine Ridge uranium project in Wyoming is set to commence drilling on July 21, 2025, with a 38,000-meter drilling program, while the Engo Valley project in Namibia continues with Phase 2, targeting approximately 7,500 meters of drilling. These projects align with the U.S. Administration's executive orders promoting the expansion of nuclear energy and supporting domestic uranium production [2].

Galp's ongoing efforts in Namibia and its strategic partnerships are part of a broader strategy to enhance its financial position and operational resilience. The company's strong financial performance during the second quarter of 2025, reflected in its Ebitda reaching 840 million euros, up 25% Q-on-Q, underscores its commitment to strategic execution [1].

References:
[1] https://www.marketscreener.com/news/galp-energia-sgps-s-a-presentation-transcript-2q-2025-ce7c5cdfdc8eff26
[2] https://www.gurufocus.com/news/2987209/snow-lake-advances-uranium-projects-in-wyoming-and-namibia-in-support-of-us-policies-on-national-energy-security-litm-stock-news