Portugal’s Galp said its adjusted net income in the first half of 2026 rose to €812 million, helped by the start-up of Brazil’s Bacalhau field that lifted oil and gas production 17% year on year. The company also benefited from a 28% year-on-year jump in average Brent crude prices to $92.30 a barrel. Upstream contributed more than 60% of EBITDA, which topped €2.2 billion. Refining earnings were supported by historically high crack spreads.