RE expansion, lower oil earnings pull PetroEnergy’s net income down

RE expansion, lower oil earnings pull PetroEnergy’s net income down

Yuchengco-led PetroEnergy Resources Corp. (PERC) reported a decrease in its net income for the first three months of 2025 due to expenses for its renewable energy (RE) developments.In a statement, PERC reported a consolidated net income of ₱281 million for the first quarter of 2025, reflecting a 13-percent decline from ₱322 million in the same period of 2024.According to PetroEnergy, RE expansion works, as well as lower profit from its oil produ…