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Lone oil refiner Petron Corp. said Tuesday it is committed to improving its financial performance this year by boosting sales volumes.
“We are focused on increasing our sales volume and improve our financial performance. We’re taking advantage of the ongoing economic recovery that’s why you’re seeing a huge improve in our sales volume last year,” Petron general manager Lubin Nepomuceno said during the company’s annual stockholders’ meeting.
Petron’s consolidated sales volume reached 35.29 million barrels in the first quarter, or 23 percent higher than 2023’s 28.59 million barrels. Ang said other countries also give subsidies to their oil industry, “but will not be able to sustain that in the long term.”
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