French oil group Maurel and Prom said on Tuesday that a sharp rise in oil prices drove its half-year sales to $366 million, 27 per cent higher than in the second half of 2025.
The average oil sale price was $103.8 per barrel, up 53 per cent compared with the second half of 2025.
Brent crude surged as much as 90 per cent in the first quarter of 2026 as the US-Israeli war with Iran disrupted shipping through the Strait of Hormuz. Prices have since retreated, but remain volatile amid intermittent flare-ups in the conflict.
"The first half of the year was slightly better than we had expected, driven by the sharp rise in Brent crude prices over the period," brokerage Portzamparc said in a note to investors.
Portzamparc added that the strength of MP's portfolio remains a key advantage, which it expects to be reinforced by capital spending.
The group resumed crude exports from Venezuela in June, shipping 500,000 barrels, its first lifting since a licence suspension. A second cargo is due at the end of July.
Its total working interest production averaged 37,890 barrels of oil equivalent per day in the first half of the year, up three per cent from the second half of 2025.
Gabon output, MP's largest asset, rose one per cent compared to the second half of 2025, while output in Angola fell nine per cent as rig downtime disrupted production.
The group also said it had signed a new $465 million five-year facility with its banking syndicate to refinance existing debt on July 10, which is expected to add $250 million of liquidity by early October.
MP rejoined France's SBF120 index in June, a year after Euronext removed it. The shares rose 2.3 per cent in early trading on Tuesday.
(Reporting by Hugo Lhomedet in Gdansk, editing by Milla Nissi-Prussak)