Pilipinas Shell keeps momentum with P2.2B income in 1H

Pilipinas Shell

Pilipinas Shell Petroleum Corporation’s shift in supply chain strategy is working, with the company posting P2.2 billion in net income for the first half of the year.

“We’re seeing a significant rebound from our P6.7 billion loss in the same period last year. It validates our bold decision to transform the way we do business amidst uncertain conditions resulting from the Covid-19 pandemic,” says Pilipinas Shell President and CEO Cesar Romero.

The company inaugurated the Shell Import Facility Tabangao (SHIFT) last June 30, marking the transformation of its refinery into a world-class import terminal that will meet fuel demand in Metro Manila, Southern Luzon and Northern Visayas. “This SHIFT means stronger supply reliability, greater operational efficiency, and improved overall logistics performance,” adds Romero.

Pilipinas Shell attributes its strong showing for the first six months not only to supply chain strategy but also to its strong marketing performance, all the while ensuring the financial strength and resilience of its business via a strong balance sheet and prudent cost and capex management.

Romero admits that while the pandemic continues to pose challenges to the country’s economic recovery, it does not preclude growth. “We intend to continue to be the preferred energy partner for the industries that we serve, and the country itself, to thrive in a better normal,” he says.

True to this thrust, Pilipinas Shell sustained support for road construction projects, effectively increasing sales of bitumen products by 45 percent in 1H21 compared to figures in the same period of 16,000 tons only. ShellInstapave, with its innovative quick-application technology, was used for road repairs in North Luzon and residential builds in Visayas.

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Mobility stations also remain open to facilitate the transportation of goods and critical services despite the imposition of tighter restrictions on mobility due to the increasing number of locally transmitted cases of the Covid Delta variant.