International Petroleum posts Q2 2026 profit as higher oil prices lift revenue to USD 185.74 million

Reuters2026/08/04 05:32

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For Q2 2026, revenue rose to USD 185.74 million from USD 158.89 million, driven mainly by higher oil prices; crude oil sales climbed 46%.
Operating cash flow increased to USD 66.52 million from USD 54.87 million, while net income slipped to USD 9.92 million from USD 13.85 million.
Operating costs were USD 19.1 per boe, broadly steady with guidance; higher cost of blending reflected higher diluent prices.
Free cash flow turned positive at USD 3.9 million versus a USD 58.25 million outflow, helped by lower capital spending versus last year’s Blackrod buildout pace.
Blackrod Phase 1 delivered first oil in May; ramp-up continues, with larger volumes expected in Q4 and a 30,000 bopd plateau targeted by end-2027.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. International Petroleum Corporation published the original content used to generate this news brief on August 04, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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International Petroleum posts Q2 2026 profit as higher oil prices lift revenue to USD 185.74 million

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