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Philippines: Petron income rises 55% in H1
Philippines: Petron income rises 55% in H1
Tuesday, August 9, 2016 – Petron Corp. posted a P5.3-billion profit in the first half of 2016 on strong sales, improved production from its refinery and cost efficiencies.
The oil company’s income from January to June was a 55-percent improvement from P3.4 billion a year earlier.
Petron attributed the strong performance to a surge in sales volumes, supported by its aggressive network expansion, improved production and cost efficiencies,
“Petron continues to deliver strong results amid the prolonged slump in oil prices. This is a direct effect of much improved operational productivity and the expansion of our markets,” Petron president and CEO Ramon Ang said. Read More?