Petro Energy Resources Corp. (PERC) reported a sharp drop in profit for 2025, even as its revenues grew.
The company said its net income fell by 29.8 percent to P618.33 million, down from P881.41 million in 2024. This was mainly due to higher interest expenses from new project loans, lower crude oil prices, and reduced output from its oil operations in Gabon.
Despite the decline in earnings, PERC’s total revenues rose by 7.2 percent to P3.72 billion. The increase was driven largely by higher electricity sales, which grew 11.45 percent to P3.13 billion.
The company attributed the rise in electricity sales to the expansion of its renewable energy business under PetroGreen Energy Corp. New projects completed in 2025 included wind and solar plants in Aklan, Bohol, and Nueva Ecija, as well as additional output from a solar project in Isabela.
Looking ahead, PERC said it will focus on completing more renewable energy projects, including solar facilities in Pangasinan and Isabela, and a solar and battery storage project in Capiz.
The company also continues its oil operations in Gabon, where a new drilling phase is underway and aims to increase production by the end of 2026.
PERC’s existing energy assets include geothermal, solar, and wind power projects
