Chile Fuel Giant Copec Profit Rises 46%
Chilean group Empresas Copec earned US$289 million in July to September 2026, up about 46%, on stronger fuel margins and a better forestry result. The post Chile Fuel Giant Copec Profit Rises 46% appeared first on The Rio Times .
Copec, the Chilean fuel giant, reported a significant profit increase of 46% to US$289 million in the third quarter of 2026. The earnings were driven by better fuel margins, higher inventory values, and stronger lubricant sales at its Chilean fuel arm. Additionally, Terpel, Copec's Colombian fuel business, also performed well. The forestry arm Arauco saw an improvement in results, aided by asset-sale gains, including the sale of its half of the Puerto Coronel port company for US$65 million.
Arauco's earnings for the nine months increased by about US$100 million compared to the same period a year earlier. Copec's CEO, Eduardo Navarro, acknowledged the challenging year but highlighted the mix of businesses that allows the group to navigate different industrial cycles. The company is also making progress on the Sucuriú pulp mill in Brazil, with construction being 81% complete and startup set for the fourth quarter of 2027.
The nine-month profit of US$1.001 billion was a 57.6% increase from the same period in 2025. Copec's sales reached US$9.198 billion, up 20% from the previous year. The gain in profit comes from fuel margins, inventory values, and stronger lubricant sales at its Chilean fuel business, as well as better results at its Colombian fuel business, Terpel.
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