Petron quadruples Q2 earnings to P3.2B

Petron Corp., the country’s leading oil refining and marketing company, said its net income in the second quarter of the year quadrupled to P3.2 billion from a year ago driven by higher sales volumes and better margins as oil prices stabilized during the period.

The oil firm said its second quarter net income was up 300 percent from last year’s P789 million and was 12 times the P257 million earnings recorded in the first quarter of 2015.