Portugal adopts temporary solidarity tax on petroleum firms' excess profits

Portugal petroleum tax temporary solidarity contribution excess profits household aid

The Portuguese government approved a temporary solidarity contribution (CSTSP) that will tax the portion of oil‑and‑refining companies’ profits in 2026 that exceeds the average of the two preceding years. The measure mirrors the EU‑wide windfall tax introduced in 2022, which imposed a 33 % rate on excess profits of fossil‑fuel firms.

Finance Minister Joaquim Miranda Sarmento and his counterparts in Germany, Spain, Italy and Austria have asked the European Commission to create a similar instrument at the EU level. Revenues from the contribution are earmarked to help families and vulnerable sectors hit by rising fuel prices and to fund energy‑efficiency and decarbonisation projects.

The tax comes as Galp Energia reported a €812 million profit up to June – 44 % higher than a year earlier – and announced a 10 % dividend increase, underscoring the windfall gains that the contribution aims to capture.

Entities

CSTSP (Temporary Solidarity Contribution) · European Commission · Galp Energia · Government of Portugal · Joaquim Miranda Sarmento · Portugal · Portugal (government) · oil and refining sector

Claims

What the coverage asserts, and how many sources carry each claim.

[● 10 SOURCES] The Portuguese Government approved a temporary solidarity contribution on the petroleum sector (CSTSP). elperiodicodelaenergia.com · recordeuropa.com · www.cmjornal.pt · eco.sapo.pt · www.forbespt.com · +5 more
[● 10 SOURCES] The tax revives a 2022 EU‑wide “windfall tax” that imposed a 33 % rate on excess profits of fossil‑fuel companies after the Ukraine war energy crisis. recordeuropa.com · www.forbespt.com · sapo.pt · elperiodicodelaenergia.com · www.cmjornal.pt · +5 more
[● 10 SOURCES] Portuguese Finance Minister Joaquim Miranda Sarmento and his German, Spanish, Italian and Austrian counterparts asked the European Commission to develop a similar contribution instrument. recordeuropa.com · www.cmjornal.pt · www.forbespt.com · elperiodicodelaenergia.com · eco.sapo.pt · +5 more
[● 10 SOURCES] The contribution taxes the part of oil and refining companies’ profits that exceeds the average of the two previous years for profits recorded in 2026. elperiodicodelaenergia.com · www.cmjornal.pt · recordeuropa.com · eco.sapo.pt · www.forbespt.com · +5 more
[● 10 SOURCES] Revenue from the contribution will be used to support families and vulnerable sectors affected by fuel price increases and to fund energy‑efficiency and decarbonisation investments. recordeuropa.com · www.forbespt.com · jornaleconomico.sapo.pt · sapo.pt · elperiodicodelaenergia.com · +5 more
[● 3 SOURCES] Galp Energia reported a €812 million profit up to June, 44 % higher than the same period a year earlier, and increased its dividend by 10 %. eco.sapo.pt · www.dn.pt · www.forbespt.com