PILIPINAS Shell Petroleum Corporation (Pilipinas Shell) posted net income of P7.4 billion in 2016, more than double the P3.6 billion it booked in 2015.
In a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, the oil giant said the strong financial performance was driven by increased premium fuel penetration, strong retail volume growth, successful marketing campaigns, and logistics cost savings that offset the impact of lower commercial sales volumes and extended refinery downtime in the fourth quarter.
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