Metro Manila (CNN Philippines, March 30) — Oil giant Shell Pilipinas Corp. said Thursday it kept its recovery momentum with net income climbing 6% to ₱4.1 billion in 2022 despite economic headwinds in the global and local market.
In a statement, the energy firm attributed last year’s gains to its “strong marketing performance,” which propelled its volume delivery to jump by 10%.
It likewise maintained a “high premium fuel penetration.”
Shell Pilipinas said demand from key industries — commercial road transport, aviation, and construction — realized double-digit growth in volume sales.
This was achieved amidst a challenging year with high inflation, fuel price volatility brought by the Russia-Ukraine war, and Philippine peso depreciation,” it said.Operational cash flow, meanwhile, stood at ₱1.8 billion.
