The Philippines’ lone refiner managed growth despite geopolitical volatility and policy shifts that kept Dubai crude trading around $71 per barrel, down 13 percent year-on-year.
Management’s view
“As a refiner, we’ve had to balance financial resilience with delivering value across every aspect of our business,” said Petron president and CEO Ramon S. Ang.
“This year, the market has presented even greater challenges, yet we’re proud of how we’ve stood against external pressures and even competition. Our performance over the past three quarters has been a testament to this, and we remain optimistic about maintaining this momentum through the rest of the year,” he added.
Steady sales, refinery gains
Petron sold 84.7 million barrels across the Philippines and Malaysia, up three percent from a year earlier, buoyed by an 11 percent jump in Philippine retail sales that solidified its leading market share.
Lower oil prices trimmed revenues by 10 percent to P594.9 billion, but cost savings and productivity gains lifted operating income by 20 percent to P26.6 billion.
Ang’s optimism mirrors Petron’s steady recovery story—a homegrown energy firm holding its ground against global headwinds. With regional refining margins down 11 percent, Petron’s ability to squeeze gains from efficiency underscores its discipline and scale.
—Edited by Miguel R. Camus
