• Net income surges 84 percent to P15.6 billion
• Operating income climbs 28 percent to P37.3 billion
• Revenues slip 7 percent to P810 billion on lower crude prices
• Philippine market share expands to 27.8 percent
San Miguel Corp.-backed Petron Corp. posted a record P15.6 billion net income for full-year 2025, up 84 percent from P8.5 billion a year earlier, as stronger refinery operations and tighter cost controls offset softer oil prices and lower revenues.
Operating income rose 28 percent to P37.3 billion from P29.2 billion in 2024, signaling improved margins despite global volatility.
Revenues fell 7 percent to P810 billion from P868 billion as average Dubai crude prices declined 13 percent year on year to $69 per barrel, weighing on the top line.
Big picture
Total consolidated volumes in the Philippines and Malaysia grew 3 percent to 113.4 million barrels from 110 million barrels in 2024, supported by steady domestic demand and stable Malaysian sales despite regulatory shifts.
Petron said it optimized utilization at its Philippine and Malaysian refineries, benefiting from favorable refining economics. The company operates the only remaining refinery in the Philippines.
Management’s view
“Despite external challenges, we achieved growth across the business and emerged stronger in an unpredictable market,” Petron president and CEO Ramon S. Ang said.
“Our historic performance in 2025 highlights the resilience of our strategy, which not only sustains our growth but also defies industry trends. We will continue to strengthen our supply chain, strategically expand our footprint, and make a more meaningful contribution to nation-building as we continue to solidify our leadership position in the industry,” he added.
Market position
Data from the Department of Energy showed Petron’s local market share rose to 27.8 percent in the first half of 2025 from 25 percent in 2024.
It also retained leadership in the liquefied petroleum gas segment with a 25.1 percent share.
Lower crude prices trimmed revenues but improved refining spreads, lifting margins. The company also cited lower financing costs and tighter working capital management, supporting cash flow and balance sheet flexibility.
—Edited by Miguel R. Camus
