KEY oil player Shell Pilipinas Corp. posted a net income of P1.3 billion in 2024, up 6 percent from the previous year's P1.19 billion, largely due to operational efficiencies and cost savings amid challenging market conditions.
In a stock exchange filing, the company said core earnings grew by a more robust 15 percent to P2.6 billion, "fueled by significant operational efficiencies," with P900 million in operating expense savings coming from supply efficiencies, structural cost reduction across the organization and interest avoidance.
