By Myrna M. Velasco

Buoyed by inventory holding gains and improvement in refinery reliability, the net earnings of listed firm Pilipinas Shell Petroleum Corporation expanded 8.0-percent to P7.2 billion in the last three quarters from P6.36 billion in the same period last year.

The company noted that its marketing businesses “continue to deliver robust earnings” amid rising inflation as well as the climb in global oil prices that had been making dent on consumers’ pockets the past months.

With skyrocketing prices, oil companies often resort to more creative strategies in keeping consumers’ patronage, so that in the end, their volumes will not be suffering from unwanted dips.

Cash from operations, according to Shell, had climbed 11-percent higher to P8.8 billon from January to September this year; while rolling return on average capital employed had been sustained at 27% and gearing remained considerably low at 22-percent.

In addition, the company indicated that the non-fuels segment of its retail business had been posting double-digit growth, with hikes in same-store sales as well as lubricants.

Shell opened additional 27 of its flagship “Select” stores since the beginning of the year; and had that further propped with 14 deli2go stores and 48 lube bays.

The commercial segment kept up as a growth driver for Pilipinas Shell, with it reportedly “enjoying higher premium product penetration and strong volume growth in aviation and bitumen.”

At this time, Shell can vouch that its bitumen plant is the only one in the country – chiefly meeting the needs of the local market and supporting the government’s infrastructure programs.

Onward, Pilipinas Shell President and CEO Cesar G. Romero said the company will “continue to expand our marketing businesses with discipline and operate our supply chain safely and reliably to support the country’s energy needs.”

This year, the company similarly logged “highest reliability performance” for its Tabangao refinery, while noting that its North Mindanao Import Facility in Misamis Oriental has been driving up Shell’s competitive advantage in the southern core of the Philippine market.