Monday, May 16, 2011

Petron Q1 revenue buoyed by petrochemical revenues

Philippines’ largest oil refiner and retailer- Petron Corp.’s Q1-2011 income almost doubled from Q1-2010, due to stronger revenue from its petrochemical business. Q1 income stood at P3.4 bln.
Rises iin crude prices propped up prices of petrochemical products such benzene, toluene, and xylene, while supply tightness in propylene enabled the company to capture incremental margins from its production streams.

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