Petron Corp. posted a 12-percent rise in consolidated revenue to P657.93 billion, driven by a 12-percent increase in sales volume to 104.4 million barrels.
Fuel giant Shell Pilipinas Corp. saw net income in 2023 plummet by 71 percent to Php1.2 billion on weaker sales and heightened borrowing costs, alongside losses from inventory holdings due to fluctuating global oil prices.