UNITEDENERGY GP (00467) announced its interim results, with profit attributable to shareholders reaching HK$953 million, a year-on-year increase of 28.7%.

UNITED ENERGY GP (00467) announced its interim results for the six months ending June 30, 2026, with the groups revenue reaching HKD 10.939 billion, a year-on-year increase of 33.7%; shareholders' profit stood at HKD 953 million, up 28.7%; and basic earnings per share were HKD 3.71. During the six months ending June 30, 2026, the group continued to enhance its efforts in oil and gas exploration. Adhering to the principle of "value-driven, focusing on the exploration and discovery of small but profitable oil fields," the group achieved four commercial discoveries, one in Pakistan and three in Egypt. For the six months ending June 30, 2026, the groups average daily production was approximately 161,038 barrels of oil equivalent, a decrease of 14.0% compared to approximately 187,258 barrels of oil equivalent in the same period last year; total production was about 29.1 million barrels of oil equivalent, down 14.0% from approximately 33.9 million barrels of oil equivalent a year ago; the groups average equity daily production was approximately 102,099 barrels of oil equivalent, a decline of about 8.7% compared to approximately 111,762 barrels of oil equivalent in the prior year; total equity production was about 18.5 million barrels of oil equivalent, down roughly 8.7% from about 20.2 million barrels of oil equivalent last year. During the reporting period, the groups operating and equity production experienced a decline year-on-year, primarily due to the impact of certain production restrictions imposed by Basra Oil Company on the groups assets in Iraq. In early June 2026, Basra Oil Company completely lifted these production restrictions, and production from the groups Iraqi assets has returned to pre-conflict levels.