VOL. XLV

No 34

26-August-2002

SAUDI ARABIA

Petron Of The Philippines Declares NetIncome Of $23Mn In 2001

PetronCorporation of the Philippines the countrys major refiner, which is a publicshareholding company owned 40% by the Philippine National Oil Company, 40% bySaudi Aramco, and 20% by local private investors has announced net income of P1,224mn ($23mn) for 2001. This is in starkcontrast to a loss of P2,549mn ($49mn) in 2000. Thefigures were contained in Petrons recently published2001 Annual...