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Okiyo Exploration profit increase H1 2026
OQO Exploration and Production Company's profits increased by 18.14% during the first half of 2026, recording a net profit of 196.87 million riyals (roughly $510.44 million), compared to 166.64 million riyals (approximately $432.06 million) in the first half of 2025. Revenues also rose by 9.61%, reaching 706.25 million riyals (about $1.83 billion), up from 644.33 million riyals (around $1.67 billion) in the same period of the previous year. However, the company experienced a 10.22% decline in its annual profits for 2025, which amounted to 293.19 million riyals (approximately $760.17 million), compared to 326.56 million riyals (about $846.35 million) in 2024. The results indicate an improvement in the company's performance in the first half of the year, despite the decrease in annual profits, with the rise in profits attributed to increased revenues.
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