Owing to inventory losses that weighed down its overall financial performance within January to March this year, Shell Pilipinas Corporation logged a net loss of P300 million within the quarter, substantially reversing a hefty income of P3.5 billion in the same period last year. If reckoned on core earnings, the company performed positively at P800 million which has been higher by 45-percent versus comparative period last year; and that was primarily buoyed by rise in sales volume. However, the company qualified that such upturn “was overshadowed by the P1.1 billion inventory holding loss arising from the decline in oil prices.” The oil firm noted it still “continues to recover from the pandemic as it pursues its growth targets in 2023 despite various challenges such as oil price volatility, high inflation, and elevated interest rates.” On volumes, Shell specified that this was “driven by strong marketing delivery, as sales volume increased by 8-percent and premium product mix remains healthy.” Despite the income downtrend, Shell Pilipinas President and CEO Lorelie Quiambao-Osial emphasized that the company will keep its corporate goal to “create value for all our shareholders by growing our reach and impact, profitably.” She cited that “growth in fuels and lubes sales volumes continued across businesses such as mobility, lubricants, and aviation, while our non-fuel retail business maintained its double-digit growth.” The mobility segment of the company’s business registered volume growth of 8.0-percent; including its business-to-customer (B2C) core; while its V-Power high premium fuels had a market penetration of 27-percent. The non-fuel retail side of the business, according to the company, “plays a key part in our strategy and has sustained double-digit growth in the past three years.” Shell similarly highlighted its strategic selection of mobility sites, anchored on the overarching goal of enhancing “customer visit experience while reducing its carbon footprint.” So far, one of the company’s new site is Banilad, Cebu; as well as the targeted site in Silang, Cavite.