Copec Profit Hits US$712M as It Ties Up With Cabify
Chile · Business Key Facts Empresas Copec posted a first-half 2026 net profit of about US$712 million. That is up from US$437 million a year earlier. Second-quarter profit alone reached US$440 million, the group’s strongest three months in the period. Energy and mining led the gains. Higher copper prices helped a lot, while the forestry […] The post Copec Profit Hits US$712M as It Ties Up With…
Chilean conglomerate Empresas Copec reported a significant profit increase of US$712 million for the first half of 2026, up from US$437 million in the same period last year. This growth can be attributed to strong performances in its energy and mining sectors, particularly the copper industry, which is Chile's largest export.
The forestry arm, Arauco, faced challenges due to soft pulp prices, but asset sales and a robust second quarter helped mitigate the impact. A strategic partnership with ride-hailing app Cabify, effective August 1, 2026, further diversifies Copec's revenue streams. Copec drivers will receive fuel discounts, access to Copec's electric charging network, and car maintenance services.
This move aligns with Cabify's goal to reduce average emissions per kilometer by a third by 2029, as it seeks to expand its presence in Chile. Copec's CEO, Eduardo Navarro, attributes the strong profit to portfolio diversification, highlighting how income from different sectors can offset losses in others.
The robust earnings at Copec suggest a healthy economy in Chile, bolstered by high copper prices and government efforts to increase copper production. As a major player in fuel, forestry, and copper, Copec's success serves as a promising indicator for other sectors and the broader economy.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
