Oman's OQEP Reports Record Net Profit Growth

OQ Exploration and Production (OQEP) reported a significant increase in its net profit for the first half of 2026, reaching OMR199.02 million, a growth of 19.4 percent compared to the same period last year.

The company's revenue growth was driven by an 8 percent increase in the average realised oil price, which reached $80.9 per barrel, and an increase in production levels.

OQEP also achieved a 14.1 percent year-on-year increase in adjusted cash flow from operating activities, reaching OMR331.2 million, driven by higher commodity prices and increased sales volume.