Despite the Middle East crisis, which heightened market volatility in March, Shell Pilipinas Corp. reported more than double its net income in the first quarter of 2026 compared to the same period last year. This growth was attributed to firmer market conditions in January-February, along with an increase in net sales and expenses.
Shell Pilipinas Corp. more than doubled its net income for the first quarter of the year, citing firmer market conditions in January and February 2026.
However, market volatility intensified in March amid the Middle East crisis. Despite this, Shell{ extquoteright}s net income grew to P1.617 billion from P743.591 million in the same period last year, as net sales increased to P63.289 billion from P57.992 billion, while expenses grew to P4.462 billion from P4.277 billion. In the non-fuels business, lubricants rose by 27% while bitumen volumes declined 6% due to fuel price increases, supply constraints, and project award delays
Shell Pilipinas Corp. Middle East Crisis Market Volatility First Quarter Net Income Growth Non-Fuels Business Lubricants Bitumen Volumes Firm Market Conditions Increased Net Sales Increased Expenses Anti-Crisis Measures
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