Petron Corp.
MANILA, Philippines — Petron Corp. posted a 27-percent drop in its bottom line in the first semester as the hostilities in the Middle East drove up costs.
The company led by billionaire Ramon Ang, reported on Tuesday that its net income took a toll from the monthslong war in the oil-producing region. Its profit declined to P3.8 billion from P5.3 billion in the same period last year.
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