OQEP Posts 19.4 Percent Net Profit Growth for H1 2026

OQ Exploration and Production (OQEP) reported a significant increase in net profit for the first half of 2026, reaching RO 199.029 million.

This represents a growth of 19.4 percent compared to the same period last year, exceeding the revenue growth rate of 12 percent.

The increased sales volume of crude oil and condensates, which reached 11.6 million barrels, contributed to this revenue growth, along with an 8 percent increase in the average realized oil price, reaching USD 80.9 per barrel.

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