Tethys Petroleum Sees 70% Oil Sales Jump, But Turbine Failures Bite

Tethys Petroleum Limited, listed on the TSX Venture Exchange under the ticker TPL, has filed its interim results for the three months ended June 30, 2026. The company's oil and gas sales rose by a significant 70% in the second quarter of this year, reaching $10.4 million compared to $6.1 million in the same period last year.

The revenue growth did not translate into improved profitability for Tethys Petroleum, as it reported a net loss of $0.01 million for the period, compared to a net profit of $1.3 million in the second quarter of 2025.

According to the company's statement, oil production levels fell short of expectations due to technical failures affecting gas turbines. However, Tethys Petroleum is currently repairing or replacing one of the turbines as soon as possible and has also purchased a second gas compressor that will be installed at the Kul-Bas Central Processing Facility.