Petron’s profits fall 27% even as fuel revenues soared past ₱600 billion

Petron’s profits fall 27% even as fuel revenues soared past ₱600 billion

Petron Corp., the country’s sole remaining oil refiner, reported a 27 percent drop in its first-half net income as Middle East geopolitical volatility and temporary refinery shutdowns weighed on its financial performance.In a statement on Tuesday, Aug. 4, Petron said net income for the first six months of 2026 slipped to ₱3.8 billion from the same period last year. Earnings were heavily impacted by record-high crude prices, elevated import premi…