Norwegian oil firm Aker BP on Wednesday reported a jump in second-quarter profit as the U.S.-Israeli war on Iran drove up energy prices.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to $3.35 billion in the April-to-June quarter from $2.22 billion a year earlier. Analysts in a company-compiled consensus had expected EBITDA of $3.25 billion.
"Alongside the delivery of our current project portfolio, we are laying the foundation for Aker BP's next phase of growth," CEO Karl Johnny Hersvik said in a statement.
The company raised the lower end of its 2026 production guidance, forecasting output of between 380,000 and 400,000 barrels of oil equivalent per day (boed) from 370,000 to 400,000 boed previously. Aker BP expects production to rise above 500,000 boed in 2028.
The firm said two major field developments were on track to start production next year, though the cost of the projects is rising.
The firm raised its 2026 capital spending guidance to $6.8 billion to $7.2 billion from $6.2 billion to $6.7 billion.
It said increased investment costs reflected higher activity levels and measures to strengthen execution in final project phases of its major developments.
The company kept its quarterly dividend unchanged at $0.6615 a share.
(Reuters - Reporting by Terje Solsvik; Editing by Thomas Derpinghaus)
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