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Pilipinas Shell posts P3.5 billion net income in first 3 months of 2022
Pilipinas Shell posts P3.5 billion net income in first 3 months of 2022
ABS-CBN News
Published May 12, 2022 03:39 PM PHT
Buko vendor Rosel Borante pays for P50 worth of fuel at a nearby station after running out of gas and being forced to push her motorcycle along UN Avenue in Manila on March 15, 2022. Jonathan Cellona, ABS-CBN News
MANILA - Pilipinas Shell Petroleum Corp on Thursday said it had a strong start to the year 2022 with its net income hitting P3.5 billion in the first quarter.
For the period it has maintained a positive cash flow from operations, its borrowing levels were "controlled" while cash conservation measures remained a priority due to the rising global oil prices, Pilipinas Shell said in a disclosure to the stock exchange.
"Pilipinas Shell remains steadfast and committed to our strategy of powering progress for the country, as opportunities are opening with a recovering economy,” Pilipinas Shell President and Chief Executive Officer said.
“Customer-centricity, innovation, agility, and our initiatives for sustainable energy are all designed to meet our expanding customers’ current and future needs with the resurgence of safe mobility,” Osial added.
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The company in April held the groundbreaking ceremony of its 4th world-class medium-range vessel capable Import Terminal in Davao.
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