PILIPINAS Shell Petroleum Corp. posted a net INCOME OF P3.5 BILLION IN THE fiRST QUARTER OF 2022, A SIGNIfiCANT INCREASE FROM LAST YEAR’S P1 BILLION, PLACING IT WELL ON TRACK WITH ITS fiVEYEAR PLAN.

“Pilipinas Shell remains steadfast and committed to our strategy of powering progress for the country, as opportunities are opening with a recovering economy,” said Lorelie Quiambao-Osial, the energy company’s president and chief executive officer.

“Customer-centricity, innovation, agility and our initiatives for sustainable energy are all designed to meet our expanding customers’ current and future needs with the resurgence of safe mobility,”

Quiambao-Osial added.

The energy firm maintains a high fuel premium penetration of 29 percent, sustaining the strong position of its Shell V-power brand as the most preferred fuel brand in the country.

Amid the significant increase in global oil prices caused by the Russia-Ukraine war and heightened mobility restrictions due to the Omicron variant in the first quarter, Pilipinas Shell continues to provide its customers with premium products, superior technical services and tailor-fit value propositions. It has maintained a reliable supply of fuels for its sector customers across the country despite industry supply chain pressures.

Pilipinas Shell’s lubricants business registered a 12-percent volume increase while premium sales volume rose by 24 percent despite the pandemic.

While not yet at pre-pandemic levels, aviation sales volume bounced back in 2022 at 74-percent growth compared to the previous year, as domestic and international borders open both for passenger and cargo flights.

The company intends to accelerate its strategies throughout this year by growing, continuing to invest in and responding to the growing energy needs of the Philippines. Pilipinas Shell’s expanding non-fuel retail products and services are transforming consumers’ experience of its fuel stations as mobility destinations. For the first quarter of 2022, its non-fuel retail gross margin was up by 27 percent compared to the prior year, and its highest quarter performance delivery since 2016.

In total, there are now 191 Shell Select stores, 223 Select Express sites, 78 deli2go stores and 456 Lube bays nationwide that serve the rapidly evolving mobility and purchasing behavior of the public.

The first quarter of 2022 also delivered results for Pilipinas Shell as an energy provider and leader for the more than 7,100 islands of the country. Its B2B campaigns and initiatives have successfully won and/or renewed contracts in the power, marine, construction and industrial sectors.

The company marked another milestone in 2022 with the groundbreaking of its fourth world-class MR (medium range) vessel capable import terminal in Barangay Darong, Sta. Cruz, Davao last April. This facility will strengthen the existing value chain as well as support the growing energy needs in the Southern Mindanao area. The terminal also enhances the company’s responsiveness and reliability during typhoons and natural calamities.

The company’s three other import terminals are located in Batangas, Cagayan de Oro and Subic.

This year, the energy company will advance its sustainability agenda by continuing to drive its businesses to help contribute to the reduction of its carbon footprint while promoting its lower carbon products and offerings. Its biggest asset, the import terminal in Batangas, uses 100-percent renewable energy which translates to 2.6KT equivalent of CO2 (carbon dioxide) decrease in the first quarter.

Pilipinas Shell is listed as third, and the only energy company, on LinkedIn’s top 15 companies to work for in the Philippines in 2022.

“Nation-building through the delivery of high-quality reliable energy to every part of the Philippines is among our core pillars,” said Quiambao-Osial, “and all our stakeholders, including the government, our partners and the public can rely on our commitment to power progress together. We are here to stay.”