WorldWatch chief analyst has informed Reuters that Galp Energia , Portugals main oil company with parterships in Brasils Tupi field has declared that its profits for 2010 reached the 306 milion euros.
These soaring profit margins are based exclusively on the weekly consumer price hikes that the average motorist have been paying since 2008 and are continuing in 2011, Portugal has one of the hieghest consumer prices for oil (gas-USA) in the world.
This year alone profit margin has increased by 16% compared with same time last year, once more as a result of the constant consumer price hike.
The company C.E.O. Ferreira de Oliveira has once more tried to cover up the real reason why the company keeps scoring ever bigger profits at the expence of the motorist.
Weekly consumer hikes are practiced by all involved oil companies with what motorists see as price fixing as all paractice the same inflated price.
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