Aker BP's Profit Climbs 50%, Major Projects on Track for 2027 Start-Up
October 29, 2026
Norwegian oil firm Aker on Thursday reported a 50% rise year-on-year in third-quarter profit as Middle East supply disruptions boosted prices for North Sea oil and gas.
Aker BP's earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to $3.4 billion in July-September from $2.26 billion a year earlier.
Analysts in a company-compiled consensus had expected EBITDA of $3.42 billion.
The company kept its full-year 2026 production guidance at 380,000-400,000 barrels of oil equivalent per day (boed), but increased its production cost guidance to around $8.5 from around $8 per barrel.
Its two largest projects off Norway, Yggdrasil and Valhall-Fenris, were progressing as planned and on track for first production next summer, Aker BP said.
The company kept its quarterly dividend unchanged at $0.6615 a share.
(Reuters - Reporting by Nerijus Adomaitis, editing by Terje Solsvik)
