Former Shell director Andy Brown will become CEO at Portuguese oil and energy company Galp Energia from Feb. 19, the company said, with boss Carlos Gomes da Silva leaving two years before the end of his mandate.
The decision was agreed upon by Gomes da Silva and board chair Paula Amorim, and will be submitted to shareholders for approval at the company’s next general meeting, Galp said in a statement Jan. 12. It did not say why Gomes da Silva, who has been CEO since 2015, was stepping down.
Brown, who held various executive positions in countries including the Netherlands, Italy and Qatar in his 35-year career at Shell, left the company in 2019 after three years as upstream director.
The handover comes as Galp seeks to recover from steep losses during the pandemic, having reported net losses in the second and third quarters of last year.
Traditionally a refiner, the company joined the world of big oil over the past decade thanks to stakes in various major offshore oil and gas fields in Brazil.
Recommended Reading
Marketed: Outpost Energy Alberta Properties Divestiture
2024-04-03 - Outpost Energy has retained Sayer Energy Advisors for a corporate sale process on properties in Alberta.
Triangle Energy, JV Set to Drill in North Perth Basin
2024-04-18 - The Booth-1 prospect is planned to be the first well in the joint venture’s —Triangle Energy, Strike Energy and New Zealand Oil and Gas — upcoming drilling campaign.
TotalEnergies Cements Oman Partnership with Marsa LNG Project
2024-04-22 - Marsa LNG is expected to start production by first quarter 2028 with TotalEnergies holding 80% interest in the project and Oman National Oil Co. holding 20%.
Is Double Eagle IV the Most Coveted PE-backed Permian E&P Left?
2024-04-22 - Double Eagle IV is quietly adding leases and drilling new oil wells in core parts of the Midland Basin. After a historic run of corporate consolidation, is it the most attractive private equity-backed E&P still standing in the Permian Basin?
TotalEnergies to Acquire Remaining 50% of SapuraOMV
2024-04-22 - TotalEnergies is acquiring the remaining 50% interest of upstream gas operator SapuraOMV, bringing the French company's tab to more than $1.4 billion.