French energy giant, Maurel & Prom reported a surge in sales and output during H1 2026, amid higher oil prices and resumption of crude exports from Venezuela.
Working-interest production averaged 37,890 barrels of oil equivalent per day during the first six months of the year, up 3% year-over-year, compared to 36,628 barrels during the same period last year.
The company reported higher production in Gabon and Tanzania, with oil output in Gabon rising 1% to 13,896 barrels per day and gas production in Tanzania increasing 4% to 62.8 million cubic feet per day. Production in Colombia rose 11% to 5,933 barrels of oil per day, mainly due to increased capacity on the Oleoducto de los Llanos pipeline.
Meanwhile, output in Angola and Venezuela dropped 9% and 1%, at 3,901 boepd and 8,349 boepd, respectively. This decline was primarily attributed to the planned shutdown of the company's gas compression system in February for maintenance.
Maurel & Prom credited the US Department of Treasury's General License 50A in February, allowing it to lift 500,000 barrels of crude oil from the country in June, with a second cargo of around 1 million barrels scheduled for late July.