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Article: BRIEFING - ASIA AVIATION - OCT 29, 2009.
- Article from:
- AsiaPulse News
- Article date:
- October 29, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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An executive briefing on aviation for Oct 29, 2009, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.
PHILIPPINES PETRON SEES US$31 MLN LOSSES IN Q4 WITH EO 839
MANILA - Leading Filipino refiner Petron Corp. said it will incur losses of P1.5 billion (US$31.4 million) because of the implementation of Executive Order 839 which directs oil companies to revert their prices back to Oct. 15 levels.
With this price control, Petron is estimated to incur a net loss of P1.5 billion in the fourth quarter of 2009 alone as it begins to digest ...