Petron Corp., the Philippines’ sole oil refiner, has procured 2.48 million barrels of Russian crude oil to shore up the country’s fuel stocks following the closure of the Strait of Hormuz and the declaration of a state of national energy emergency. In a disclosure to the Philippine Stock...
Petron Corp., the only remaining oil refinery in the country, is once again open to a government takeover, potentially through a partnership with the state-run Maharlika Investment Corp. (MIC). The move comes as the Ramon Ang-led company seeks to address volatile fuel costs, though economists...
Petron Corp., the only oil refiner in the Philippines, is seeking permission from the United States (US) government to process Russian crude as the company attempts to bypass supply disruptions triggered by conflict in the Middle East. The move comes as the Sierra Leone-flagged tanker Sara Sky...
Ramon S. Ang-led Petron Corp. reported a 37 percent surge in net income for the first nine months of the year, driven by higher sales volumes, improved refinery production, and reduced costs. In a statement on Tuesday, Nov. 4, Petron said its net income rose to ₱9.7 billion in January to...
Alabang Country Club has announced on Tuesday, Aug. 5, the temporary closure of its Petron station, located inside the posh Ayala Alabang Village in Muntinlupa, following a reported gas leak incident. In a statement, the upscale, members-only club said that the incident was first reported on...
Senatorial candidate Herbert “Bistek” Bautista on Thursday urged the public to brace for a continued surge in fuel prices as suppliers are likely to hoard stocks to push prices up. The UniTeam senatorial bet noted that oil prices are now being dictated by the ongoing war in Ukraine, the impact...
Senatorial candidate Herbert “Bistek” Bautista on Thursday reiterated his push for the government to buy back oil firm Petron, saying this would serve as a means to lower oil prices down when these tend to go out of control due to some factors. According to Bautista, he has information that the...
Senatorial candidate Herbert “Bistek” Bautista on Monday said buying back Petron from San Miguel Corp. would help foster competition and provide a vehicle for subsidies which the government needs to ensure to mitigate the impact of an oil price surge as tension between Russia and Ukraine...
Philippine leading oil firm Petron Corp. is negotiating for the renewal of a 10-year supply contract for crude oil that shall be fed and processed at its Port Dickson refinery in Malaysia. According to company documents, Petron is “in negotiation for renewal” of its supply contract for Tapis...
