- Advertisement -
PXP Energy Corp. booked a lower net loss for the first quarter of the year at P1.4 million compared to the previous net loss of P5.6 million due to higher profits from the Galoc oil field in Palawan.
The company recorded petroleum revenues for the period at P18.8 million compared to a zero from the previous year after the lifting of 144,897 barrels of oil at the Galoc field for $78.1 each.
PXP Energy said it continues to coordinate with the government on the resumption of activities in both Service Contract (SC) 75 and SC 72 that are located near the West Philippine Sea.
- Advertisement -
Author
- Advertisement -
