PXP Energy Corp. reported a higher core net loss of P21.1 million in the first six months of 2025, compared with P9.5 million in the same period las year on softer crude prices and lower volumes from Galoc operations as well as higher petroleum production costs.
PXP said in a disclosure to the Philippine Stock Exchange Thursday its consolidated net loss attributable to equity holders of the parent company also widened to P22.8 million from P9.2 million last year.
Consolidated revenues reached P33.2 million, down from P42.9 million, reflecting a 9.2-percent dip in sales volume to 280,742 barrels from 309,198 bbls in the same period last year.
Revenues were also affected by a 13.9-percent decline in average realized crude price to $70.7 per barrel from $82.1 per barrel amid global market adjustments.
PXP said the Galoc oil operations in northwest Palawan remained stable during the period, providing consistent output.
