07:13 AM EDT, 08/05/2025 (MT Newswires) -- International Petroleum ( IPCFF ) earlier on Tuesday reported a drop in its net result in the second quarter on lower revenue and oil and gas production.

Net result was US$13.9 million, down from US$45.2 million. Revenue declined to US$158.9 million from US$219 million.

The company produced about 43,600 barrels of oil equivalent per day, a decrease from 48,400 boe/d but within the guidance range for the period. Production was composed of 52% heavy crude oil, 14% light and medium crude oil and 34% natural gas.

International Petroleum ( IPCFF ) maintained its full-year 2025 average net production guidance at 43,000 to 45,000 boe/d.

The company also released its sixth annual sustainability report along with its second-quarter earnings report. International Petroleum ( IPCFF ) noted that it recorded no material safety or environmental incidents in the second quarter.

The company aims to reduce its net greenhouse gas emissions intensity to 50% of its 2019 baseline by the end of 2025. International Petroleum ( IPCFF ) said it is on track to achieve this reduction.