The case settled an ownership dispute over the land behind Petron’s key operations, including its refinery, fuel terminals, and service stations nationwide, which had been held by PNOC since the 1990s.
The fuel giant filed the case in 2017 to reclaim ownership of these properties, a position the courts eventually upheld, with the transfer of assets ordered on Feb. 19, 2026 information on Petron’s annual reported showed.
With the ruling already final, the court moved to enforce the decision and begin transferring ownership back to Petron last year.
“On Dec. 12, 2025, the trial court issued an order granting Petron’s motion for issuance of writ of execution,” the company said in its annual report.
“Pursuant to the writ of execution, on December 17, 2025, Petron offered to pay PNOC the amount of P588 million through a manager’s check, which PNOC declined to accept,” it added.
Resistance after final ruling
Even after the case was decided, following Supreme Court denials on Nov. 25, 2024 and July 2, 2025, PNOC continued to push back, underscoring the stakes involved.
“In an order dated January 8, 2026, the trial court denied PNOC’s omnibus motion praying for the reversal of the trial court’s December 12, 2025 order and for the voluntary inhibition of presiding Judge Ryan Scott F. Robińos.”
What happened before?
The dispute dates back to a 1993 privatization deal, where Petron transferred key land assets to PNOC but continued using them through long-term leases.
These include refinery land, 23 fuel terminals, and 66 service station sites, which form the backbone of Petron’s nationwide operations.
The courts ordered the 1993 land transfer reversed, allowing the properties to be returned to Petron.
PNOC had argued the deal gave Petron long-term control of valuable land under terms that were “grossly disadvantageous” to the government.
PNOC also argued the ruling reverses the original privatization structure and risks transferring land now estimated at over P100 billion based on decades-old book values.
Court forces transfer
With PNOC refusing payment and filing more motions, the court stepped in to enforce the ruling directly.
“On motion filed by Petron, the trial court issued an order dated February 19, 2026 divesting PNOC of its title over all the properties covered by the deeds of conveyance and vested title over them in Petron and ordered the relevant registers of deeds to cancel the transfer certificates of title in the name of PNOC and to issue new ones in the name of Petron,” the company said in its annual report.
Only then did PNOC concede.
“On March 4, 2026, PNOC accepted the check in full satisfaction of Petron’s monetary obligations, inclusive of legal interest.”
With ownership now secured, Petron is shifting its focus to how it can use the recovered assets moving forward.
“Petron anticipates that it may lease desirable lots for development as service stations in the next 12 months,” Petron said in the report.
—Edited by Miguel R. Camus
