Petron posts P6.14B in H1 net income

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Petron Corp. saw a 20-percent drop in its consolidated net income in the first half of the year to P6.14 billion from P7.7 billion due to interest rate hikes and rising costs, along with a decline in global crude prices. | MegINQ /PDI

“Our growth strategy is on course as we continue to work on vital programs at our refinery, terminals and service stations that will ensure our stability, productivity and sustainability as an oil company,” Ang said in a statement on Tuesday.

For its Philippine operations, sales volume climbed by 16 percent to 34.93 million barrels on the back of strong demand recovery.

 

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