Shell PH income plunges to P1.18B in 2023

By The Manila Times

Apr 12, 2024 12:17 am

SHELL Pilipinas Corp. saw its net income fall by nearly 80 percent last year, to P1.18 billion from P4.07 in 2022, amid headwinds such as oil price volatility, high interest rates and stubborn inflation.

Revenues narrowed to P253.3 billion from P292.6 billion that it remained resilient and that last year's net was the result of 'improved marketing delivery and disciplined spending.'

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