Tethys Petroleum Sees Oil Sales Surge Amid Turbine Troubles

Tethys Petroleum Limited (TPL) has released its interim results for the three months ended June 30, 2026. The company's oil and gas sales increased by 70% to $10.4 million in Q2 2026 compared to $6.1 million in Q2 2025 due to higher oil production and processing crude oil into refined products.

The net loss for the period was $0.01 million, a significant drop from the $1.3 million net profit in 2025. The company attributes this loss to technical failures in gas turbines that reduced oil production levels below expectations.

Tethys is currently repairing or replacing one of the gas turbines and has installed a second gas compressor at the Kul-Bas Central Processing Facility, which will double gas compression capacity once commissioned.