2012/466/EU: Commission Decision of 3 August 2011 on the aid SA. 26980 (C 34/09 (ex N 588/08)) which Portugal is planning to grant to Petrogal (notified under document C(2011) 5546) Text with EEA relevance

1 The State aid which Portugal plans to grant to Petrogal, amounting to EUR 160484007 in nominal value (EUR 121091314 in discounted prices) and representing a maximum aid intensity of 12,43 % in discounted prices, is compatible with the internal market in accordance with Article 107(3)(a) of the Treaty.

2 Implementation of the State aid referred to in Article 1(1) is accordingly authorised. In case of deviations from the planned eligible expenditure and from the notified granting schedule of the State aid, Portugal shall not exceed the maximum aid amount in discounted prices of EUR 121091314 nor the maximum aid intensity in discounted prices of 12,43 %.

1 Portugal shall submit interim reports to the Commission every five years as from the date of this Decision. The interim reports shall provide updated information on the State aid amounts granted, on the execution of the aid contracts and on any other investment projects started at the Sines or Matosinhos refineries.

2 In addition, Portugal shall submit, within six months of the grant of the last tranche of the State aid, based on the notified granting schedule, a detailed final report including information on the State aid amounts paid, on the execution of the aid contracts and on any other investment projects started at the Sines or Matosinhos refineries.

This Decision is addressed to the Portuguese Republic.