Oil prices drive up Maurel & Prom profit, Venezuela exports seen normalising

Maurel & Prom, a French oil company, reported a 78% increase in its net income for the first half of this year, to $191million, boosted by rising crude prices.

Portzamparc, a French brokerage firm, said that 'profitability exceeded expectations due to higher oil prices. It also contained operating costs. After receiving a license to operate in Venezuela from the U.S., the company resumed its crude oil sales from Venezuela in June. However, there is still uncertainty about the country's contribution and the future of the business.

In the first half of 2026, the group's working-interest production was 37,890 barrels equivalent to?per day, an increase of 3% over the second half of 2025 and a?1% improvement from a year earlier. The company's free cash flow increased by?21% on an annual basis to $77 millions. The company increased its August dividend by 15%, to EUR0.38 per share or about $90 million. Reporting by Zakarya Melani and Jerome Terroy from Gdansk; editing by Milla Nissi-Prussak

(source: Reuters)