Petron Corporation, a unit of San Miguel Corporation, has been assigned by Philippine Rating Services Corporation (PhilRatings) the highest Issue Credit Rating of PRS Aaa, with a Stable Outlook for its proposed bond issuance. The firm is planning to raise up to P18 billion from the planned offering...
Leading oil firm Petron Corporation will be issuing P50 billion worth of peso-denominated fixed rate bonds – and the initial tranche to be offered to the public will be P18 billion. In a disclosure to the Philippine Stock Exchange (PSE), the oil company emphasized that it will slate P50 billion...
Filipino households will need to tighten their belts further as the price of cooking fuel liquefied petroleum gas (LPG) will have a big-time hike of P5.20 per kilogram or P57.20 for the standard 11-kilogram cylinder this month. lpg_petron Industry players also advised on the P2.90 per liter hike on...
The Department of Energy (DOE) has asked oil companies to provide 10 to 20 percent fuel price discount to shipping vessels, primarily those sailing to the West Philippine Sea, for fishing purposes. Department of Energy (DoE) (MANILA BULLETIN) In addition, the department is seeking the support of...
San Miguel Corporation (SMC) is ramping up its sustainability efforts across different parts of the country and through its various subsidiaries. 13006 For one, SMC's Petron Corporation is now all set to implement its rehabilitation and coastal development plan for the Sarangani Bay Protected...
With brownouts and higher fuel prices at the pumps, there’s another headache for Filipino consumers because the price of cooking fuel liquefied petroleum gas (LPG) had also increased by P2.20 per kilogram or an aggregate P24.20 for the standard 11-kilogram cylinder used in households. This...
With a conclusive decision sounded off to stockholders, Petron Corporation has shifted ground on its earlier plan of shutting down its 180,000 barrels-per-stream-day Limay refinery. Petron President and CEO Ramon S. Ang During the company’s annual stockholders meeting on Tuesday (May 18), Petron...
Diversified conglomerate San Miguel Corporation posted a strong recover in the first quarter of 2021 with net income amounting to P17.2 billion, 15 times better than the P1.1 billion it earned in the same period last year. In a statement, the firm said almost all its major...
Leading oil firm Petron Corporation has bounced back with P1.73 billion net income in first quarter this year, wiping out massive net loss of P4.9 billion posted in the same period in 2020. With improved operational performance, Petron announced that it earmarked P11 billion capital expenditures...
Leading oil firm Petron Corporation is scheduling the issuance of senior perpetual capital securities or perpetual bonds that shall be denominated in US dollars. In a disclosure to the Philippine Stock Exchange (PSE), the oil company indicated that the planned issuance has already secured the...
A provision in the newly-signed Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law or Republic Act 11534 will save the 180,000 barrels per stream day refinery of Petron Corporation from feared shutdown, because the new law will correct the “tax enforcement inequities” earlier...
Ramon S. Ang, president and CEO of the Petron Corporation, said the oil firm will continue to incur financial losses this year that would delay its recovery as the rising COVID-19 cases will again cripple demand for petroleum products. Ramon S. Ang, president and CEO of the Petron Corporation...
