The race at Portimao will take place in 2021.
Portuguese GP returns to F1 in the upcoming 2021 season. That was first reported by Motorsport.com with the reference to close sources.
The race at Algarve International Circuit is scheduled to take place on May 2nd, taking the spot of the TBC race. The talks on hosting the race were held for several weeks due to the COVID-19 difficulties in Portugal, and there even were rumours that the race at Bahrain outer layout will be held instead of it. At the moment, it seems like Portimao will take that spot.
However, Portuguese GP might cause some issues with the logistics as the country is now in the UK’s ‘red list’, which means everyone returning from such states should sit out a 10-day quarantine period.
The teams will likely be informed about the calendar update on Thursday during the meeting of the F1 Commision, during which the sprint race voting will also take place.