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الوطن
OQ’s E&P net profit surpasses 199M Omani riyals
OQ Exploration and Production recorded a net profit of 199 million Omani Rials during the first half of 2026, representing a growth of 19.4% compared to the same period last year. This increase was driven by higher oil and gas sales and an 8% rise in oil prices, reaching $80.9 per barrel. The company also experienced a 14.1% increase in adjusted cash flow from operating activities, reaching 331.2 million Omani Rials. Additionally, it invested 132 million Rials in capital expenditures, with increases in oil and gas investments and new exploration projects. The return on operating capital rose to 67%. OQ received a credit rating of (BBB-) with a stable outlook, reflecting significant progress in production and exploration projects, as well as in natural gas markets. These developments strengthen its financial position and support its strategy for sustainable growth.
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