Lower refining margins cut Petron 9-month net income

Quick Summary:

Petron Corp.saw its net income fall by more than a quarter in January to September as refining margins declined amid a challenging a business environment.

Petron also said the international oil market remains “uncertain” as weak demand from China aggravates the continued impact of political tensions in the Middle East.

This was driven by the company’s sustained volume growth in January to September 2024 to 104.4 million barrels from 93.6 million barrels in 2023.

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Article Details

Author / Journalist: Lenie Lectura

Category: BusinessStartups

Markets: PhilippinesChinaMalaysiaSingapore

Topics: Year Last Percent Refining Margins Billion Petron Income Barrels Period Million

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 16:05:00 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 451 words

Reading Time: 3 minutes read

Sentences: 17 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23434408

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