Okuyo launches $2B sukuk plan

OQ Exploration and Production Company has launched an international Sukuk program valued at two billion dollars, aimed at enhancing its financial flexibility and expanding its options to access international debt markets, with the potential to issue on the London Stock Exchange in the future. The company confirmed that the program provides a flexible platform to fund its future plans without immediate impact on operations or capital expenditures. Meanwhile, the company recorded a 10.22% decline in its annual profits for 2025, reaching 293.19 million riyals (760.17 million dollars) compared to 326.56 million riyals (846.35 million dollars) in 2024.

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