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Petron first-half profit falls 27% as Middle East conflict squeezes margins

PETRON CORP. posted a 27% decline in first-half net income to P3.8 billion as higher crude oil prices driven by the conflict in the Middle East raised production and import costs, squeezing margins despite a sharp increase in revenues. In a statement on Tuesday, the oil refiner and fuel retailer said revenues rose 57% to

Bworldonline Bworldonline · Wire Report · 2 hours ago · 1 min read

Petron first-half profit falls 27% as Middle East conflict squeezes margins

Image via wire syndication · Bworldonline

WIRE — PETRON CORP. posted a 27% decline in first-half net income to P3.8 billion as higher crude oil prices driven by the conflict in the Middle East raised production and import costs, squeezing margins despite a sharp increase in revenues. In a statement on Tuesday, the oil refiner and fuel retailer said revenues rose 57% to

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