Petron Corp., the country’s lone refiner, booked P6.14 billion in net income last year, a reversal of the P11.4-billion net loss it posted in 2020.
The company said Tuesday that it sold 82.24 million barrels in 2021, up by 5 percent from a year ago brought about by the easing of restrictions and the resumption of economic activity, which improved overall demand during the period.
Driven by the increase in international prices and higher local demand, Petron’s consolidated revenues for the year reached P438.06 billion, up 53 percent from 2020’s P286 billion. Petron President Ramon S. Ang said the company wants this momentum to continue until the end of the year.
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