Petron Corp : Executive committee of co granted co authority to negotiate, enter into and conclude with smc powergen relevant definitive agreements . Enter into and conclude agreements for purchase and acquisition of 140 mw solid fuel-fired power plant of smc powergen . Executive committee likewise authorized company to secure and avail of credit facility agreements to fund the proposed acquisition .
Petron Corp : Consolidated net income of 5.3 billion pesos in the first half of 2016, a 55%increase from the previous year . Consolidated sales revenues for the HY period dropped by 13% to 161.9 billion pesos .