The Philippines’ sole remaining crude oil refiner sustained an P11.4-billion net loss in 2020 due to the impact of the pandemic and following a P2.3-billion net income in 2019.
Even then, Petron Corp. said in a statement it saw growth in the last two quarters last year after enduring a “historic slump” in the second when the strictest community quarantine restrictions were in effect.
In the fourth quarter of 2020 alone, the company chalked up consolidated revenues of P69.6 billion when sales volume reached 19 million barrels.
Petron said these were achieved despite the continued implementation of general community quarantine in key cities of the Philippines including the Nationa…
Keep on reading: Petron suffered P11.4-B loss in 2020 as mobility curbs hit sales