petron corporation - updates

Rappler's latest stories on petron corporation


Petron 9-month earnings in 2019 drop by 70%

Nov 05, 2019 - 6:20 PM

Volatile market conditions hit Petron hard in the 1st 9 months of the year, as its net income drops to P3.6 billion

Petron says TRAIN law encouraged illegal business activities

Aug 07, 2019 - 2:20 PM

Petron says higher taxes not only led to a 72% drop in its net income for the 1st half of 2019, it also encouraged illegal practices in the oil industry

TRAIN law crushes Petron's earnings in Q1 2019

May 07, 2019 - 6:00 PM

The Philippines' largest oil refining and marketing company reports a drastic 77.6% drop in consolidated net income, as the 2nd phase of the TRAIN law kicks in

Petron gets income boost from Bataan refinery

May 08, 2018 - 5:50 PM

Ramon Ang, chief of the country's largest oil retailer, says 'stable and improved operating efficiencies' in Bataan significantly contributed to the company's performance in the 1st quarter of the year

PETRON. In this file photo, a gasoline attendant loads petrol to motorcycle at Petron station in Manila on May 12, 2009. Photo by Jay Directo/AFP

Petron is main income driver of San Miguel in 2017

Mar 15, 2018 - 8:30 PM

Petron ends 2017 with a 30% higher net income at P14.1 billion on strong sales volumes from the Philippines and Malaysia

HIGHER INCOME. The country's most diversified conglomerate, led by tycoon Ramon Ang, ends 2017 with higher recurring net income mainly on strong performance of Petron. Photo by Agence France-Presse

Oil firms cut prices for 2nd straight time

Feb 18, 2018 - 8:40 PM

The price of gasoline goes down by P1.05 per liter, diesel by P1.25 per liter, and kerosene by P1.20 per liter on Sunday, February 18

OIL ROLLBACK. Motorists gas up at a gasoline station in Paco, Manila on January 10, 2018. Photo by Ben Nabong/Rappler

Petron expects expansion deal in Malaysia done in 2020

Jan 01, 2018 - 3:42 PM

Its proposed expansion project in Malaysia is seen to cost $3.5 billion and boost its capacity by 90,000 barrels a day

PETRON. In this file photo, a gasoline attendant loads petrol to motorcycle at Petron station in Manila on May 12, 2009. Jay Directo/AFP

Petron to file corruption charges vs PNOC president

Oct 29, 2017 - 11:10 PM

The listed oil refiner is already locked in a legal battle with the state-run Philippine National Oil Company over a contract dispute

IMPACT ON INVESTORS. Petron chief Ramon Ang says government's failure to honor contract terms may dampen investor interest in the Philippines. File photo by Martin San Diego/Rappler

Petron seeks TRO vs state-run PNOC over contract dispute

Oct 22, 2017 - 10:20 PM

The feud between the listed oil refiner led by tycoon Ramon Ang and the Philippine National Oil Company goes to court, after the state-run firm allegedly violated their lease agreements

PNOC SUED. Petron chief Ramon Ang says waiving renewal clauses of the firm's lease deal with PNOC would hurt its operations, its shareholders, and the economy that relies on its petroleum products. Photo by Martin San Diego/Rappler

ICTSI buys Petron's stake in Manila North Harbor

Sep 22, 2017 - 12:45 PM

In a P1.75-billion deal, Petron divests from the Manila North Harbor to focus on its core business

NEW OWNER. ICTSI is entering into another port in Manila, widening its reach here in the country. File photo

Petron net income surges to over P8 billion in 1st half of 2017

Aug 08, 2017 - 7:55 PM

The oil refiner posts income growth despite crude oil inventory losses and a 45 day scheduled maintenance shutdown of its refinery

San Miguel's P1-trillion petrochem facility to break ground by end-2017

Jun 13, 2017 - 7:10 PM

The planned oil refinery will mainly produce petrochemicals with a capacity of 250 000 barrels per day

BIGGEST. Ramon Ang, president of San Miguel Corp, expects to break ground its biggest single investment to date in 6 months' time. Photo by Martin San Diego/Rappler

Petron to start $20B oil refinery in early 2018

May 16, 2017 - 6:08 PM

Other than its planned greenfield project Petron plans to spend another 2 billion P99 41 billion to expand its plants in Bataan and Malaysia

BIGGEST INVESTMENT. Ramon Ang says the oil refinery will mainly produce petrochemicals, with a capacity of 250,000 barrels per day Photo by Martin San Diego/Rappler

Sandiganbayan clears former Petron execs in tax refund scam

Mar 20, 2017 - 3:11 PM

The dismissed charges are among the string of cases filed in the tax refund scam of the 1990s

Rappler File Photo

San Miguel pours P281B in expansion projects

Jan 13, 2017 - 4:00 PM

The country s most diversified conglomerate says its toll roads unit accounts for bulk of the pie amounting to P119 billion

BIG BUDGET. Such amount is part of the company's P543 billion capital spending budget for its big-ticket projects. Rappler file photo

Petron Corp raises P20B in fixed rate bonds

Oct 27, 2016 - 4:40 PM

This is just the first tranche of the oil firm’s P40 billion debt securities program

OVERSUBSCRIBED. The amount represents the base offer of P15 billion and the oversubscription of P5 billion. Rappler file photo

San Miguel's net income doubles on sale of telco assets

Aug 11, 2016 - 11:49 AM

The sale of its telco business enables San Miguel to book a one time gain of P11 8 billion

HIGHER PROFIT. 'We hope in the next 5 years, we can reach $40 billion to $50 billion through acquisitions and organic growth,' says SMC President and COO Ramon Ang (front row, 2nd from left, seated). Photo by Chrisee Dela Paz/Rappler

Poe hits critics, Shell oil depot, Papua plane crash | 6PM wRap

Aug 17, 2015 - 7:18 PM

Watch the 6PM edition of Rappler s newscast The wRap

Coal power plants in Bataan commit human rights violations

Aug 05, 2015 - 1:29 PM

Ash fall is just the tip of the iceberg Residents of a Bataan town are facing violence and harassment amidst the fight against their eviction from their own land to accommodate the new coal fired power plants

Clinker and ash from coal are seen in seabeds in Lucanin, Mariveles, Bataan. Photo by Ayeen Karunungan/ Rappler

Oil firms roll back prices June 30

Jun 29, 2015 - 1:23 PM

Petron Shell and Phoenix will roll back gasoline prices by more than a peso per liter

Shell to review options after SC ruling on Pandacan depot transfer

Mar 11, 2015 - 5:16 PM

The High Court denies the oil firm’s motion for reconsideration but Shell says it will observe the law as it reviews its options

Gas prices dip further in 2015's second rollback

Jan 11, 2015 - 4:43 PM

Several oil companies in the Philippines will cut prices of gasoline kerosene and diesel on Monday January 12

Petron: No oil price hike upon leaving Pandacan depot

Dec 11, 2014 - 5:11 PM

The oil refining and marketing company also assures continuous and reliable fuel supply to Metro Manila and nearby provinces once it moves to another depot

SEC approves Petron’s P10B preferred shares offering

Oct 10, 2014 - 7:24 PM

The country s largest oil company will offer preferred shares for P1 000 each

Gasoline, diesel prices up

Sep 02, 2014 - 3:42 PM

Petron Shell and small players Phoenix Petroleum and PTT announce first price adjustments for September

Photo by AFP

Oil firms hike prices as tension in Iraq worsens

Jun 24, 2014 - 1:50 PM

Local pump prices of petroleum products go up over P1—the highest increase so far this year

File image from Shutterstock

Malaysian operations boost Petron's 2013 profit

Mar 24, 2014 - 3:57 PM

Petron records higher sales with the full consolidation of its Malaysian operations

SOARING PROFIT. Petron's 2013 bottom line surges, with the consolidation of its Malaysian operations. Photo by AFP

Petron 9-month profit grows eightfold

Nov 04, 2013 - 1:38 PM

The oil refiner and retailer enjoys higher sales volumes and better margins

SOARING PROFIT. Petron's bottom line surges in Jan-Sept, with the consolidation of its Malaysian operations. Photo by AFP

Petron earmarks $2B for Malaysia expansion

Nov 04, 2013 - 10:25 AM

The country’s biggest oil refiner and retailer is shelling out more money to convert more Esso stations to the Petron brand

EXPANSION. Petron invests $2 billion in strengthening presence in Malaysia. Shown here are tanker trucks leaving the giant oil Esso refinery in southern France. File photo by AFP

Total daytime truck ban? No way, say truckers

Jul 03, 2013 - 8:24 PM

Representatives of the petroleum chemical and construction industries also raise concerns on the proposed truck ban

Petron Q1 earnings fall 12% to P2.2-B

May 06, 2013 - 4:51 PM

Petron says its margins were affected by volatile prices of crude oil and finished products

Petron reports revenue increases of 50% for the first quarter 2013. Photo by AFP

Petron extends footprint in Malaysia with Esso takeover

Apr 02, 2012 - 1:23 PM

Petron Corporation s international arm completed a takeover of Esso Malaysia Bhd strengthening its position Malaysia