Shell Pilipinas Corporation (PSE: SHLPH), one of the major fuel companies in the Philippines, recently shared how their business performed during the first three months of 2026. According to their report filed with the Securities and Exchange Commission on May 12, 2026, the company faced some challenging times, especially in March when the oil market became very unpredictable.
What Does Shell Pilipinas Do?
Shell Pilipinas is a fuel company that sells gasoline, diesel, and other petroleum products to Filipinos. You’ve probably seen their red and yellow gas stations around the country. They also sell lubricants (oil for engines), bitumen (material used for roads), and supply fuel to airplanes.
The Company’s Earnings: A Tale of Two Periods
According to the press release, Shell Pilipinas earned Php108 million in core earnings and Php1.6 billion in net income for the first quarter of 2026. To understand this better, think of core earnings as the money they make from their regular business, while net income includes everything else too.
The company’s President and CEO, Lorelie Quiambao Osial, explained that the first quarter was like a story with two different parts. January and February were pretty good months, but March became really difficult.
What Went Wrong in March?
Several things happened in March that made business harder:
- Oil prices went up: Because of tensions between countries (geopolitical tensions), the price of oil around the world increased
- The peso became weaker: This means it took more pesos to buy the same amount of foreign goods, including oil
- Things became more expensive: Inflation made it harder for people and businesses to afford fuel
- Markets became unpredictable: Prices were moving up and down quickly, making it hard to plan
How Did Their Sales Perform?
Despite the challenges, Shell Pilipinas still managed to sell 2% more fuel compared to the same period last year. Here’s how different parts of their business did:
- Mobility (regular gas stations): Up 3% – more people filled up at their stations thanks to rewards programs and special offers
- Fleet Solutions (fuel for company vehicles): Up 5% – they got new business customers and kept existing ones
- Commercial Fuels: Up 1% – businesses still bought their special fuel products
- Aviation (airplane fuel): Down 1% – fewer flights, especially to the Middle East, meant less demand
- Lubricants (engine oils): Up 27% – a big increase because more regular customers bought their products
- Bitumen (road materials): Down 6% – road projects were delayed because of high prices
How Did They Handle the Challenges?
When March became difficult, Shell Pilipinas did several smart things to keep fuel available for Filipinos:
- They increased their inventory (stored more fuel) to make sure they wouldn’t run out
- They worked closely with Shell’s global network to manage supply better
- They carefully planned their schedules and deliveries
- They talked with government authorities to help the entire industry be ready
Think of it like when your family stores extra food at home before a typhoon – Shell Pilipinas did something similar with fuel to make sure Filipinos would have what they need during uncertain times.
New Board Members Join the Company
On May 12, 2026, Shell Pilipinas added two new members to its Board of Directors:
- Mr. Rogelio “Babes” Singson: He has lots of experience with infrastructure projects like roads, water, and power
- Ms. Robina Gokongwei-Pe: She has experience in retail stores, property, aviation, and managing large businesses
These new board members will help the company make better decisions for the future.
What the Company Said About the Future
CEO Lorelie Quiambao Osial explained that the uncertainty from March has continued beyond the first quarter. She emphasized that the company’s priorities remain focused on safety, keeping the business running, operating responsibly, and making sure fuel stays available for the country during these volatile times.
The company didn’t make promises about future performance, but said they will stay flexible and adapt as conditions keep changing.
About Shell Pilipinas Corporation
Shell Pilipinas Corporation is registered with the Securities and Exchange Commission with registration number 14829. The company has 1,613,444,202 common shares outstanding as reported in their filing. Their main office is located at the 41st Floor, The Finance Center, 26th Street corner 9th Avenue, Bonifacio Global City, Taguig City.
Source Note:This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.
