Petron earnings dip despite higher demand for oil in Q1 | Lenie Lectura

Petron Corp.’s first quarter earnings stood at P3.4 billion, slightly lower than last year’s P3.6 billion, mainly on account of higher financing cost.

“It’s still a promising start to the new year,” said Petron President Ramon S. Ang. “The consistent rise in fuel demand and better industry conditions, combined with our efficiency and volume-generating measures contributed to our results in the first quarter.” “Despite external challenges, we remain confident in our ability to navigate the highs and lows of this industry as we work on achieving a full financial recovery this year,” said Ang.

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