Petron Posts 44% Net Income Drop Amid Rising Costs, Middle East Tensions
Petron Corp., a leading fuel retailer in the Philippines, reported a 44% year-on-year decline in net income to P5.4 billion for January-September, citing rising costs and geopolitical tensions in the Middle East. Despite increased revenues, reduced refining margins impacted profitability.
Read up to 3 eligible full articles per Japan day (JST) for free
Create a free account to open up to 3 eligible full articles per Japan calendar day (JST). Headlines and summaries remain available across ASEAN 7.
Related articles
- Philippines Dominates Fortune's 100 Best Companies to Work For™ in Southeast Asia with 54 Firms
The Philippines leads Southeast Asia in the Fortune 100 Best Companies to Work For™ Southeast Asia 2026 list, with 54 companies recognized. This highlights the international recognition of Philippine companies' investment in workplace culture and employees.
- BPI's Go Faces Growth Costs and Bad Debt Risks as She Prepares to Take Helm
Maria Cristina Go, set to lead the Bank of the Philippine Islands (BPI), faces challenges stemming from rapid expansion costs and potential bad debt. Her tenure will be tested on maintaining profitability amidst ambitious growth initiatives.
- Philippine Factory Activity Contracts for Second Straight Month in October
Philippine manufacturing contracted for the second consecutive month in October, with the S&P Global PMI falling to 49.1, impacted by weak demand and El Niño. Despite this, business confidence reached a two-year high, signaling optimism for future recovery.
- PH Banks Achieve Record Q3 Profit Amid Economic Headwinds
Philippine banks posted their highest third-quarter profit on record in 2026, driven by elevated interest rates boosting their margins despite domestic and international economic headwinds. Preliminary Bangko Sentral ng Pilipinas data shows a combined net profit of P315.5 billion as of end-September, a 4.3 percent increase year-on-year.