Overview
Petron
was incorporated on December 22, 1966 as “Esso Philippines Inc.” Petron was
renamed
“Petrophil Corporation” in 1974 when the Philippine National Oil Company
(“PNOC”) acquired it. In 1985, Petrophil and Bataan Refinery Corporation were
merged with Petrophil Corporation as the surviving corporation. The Company changed
its corporate name to “Petron Corporation” in 1988.
It
has more than 2,800 service stations in the Philippines and Malaysia and
268,000 barrel-per day refining capacity as of 2016. (Malasia refinery’s
capacity is 88,000 bpd.)
Business
Petron’s
principal business involves the refining of crude oil and the marketing and
distribution of refined petroleum products. It sells a full range of refined
petroleum products.
Sales
Contribution per market in 2016
Retail Service
|
LPG
|
Industrial
|
Lubricants
|
44%
|
13%
|
41%
|
2%
|
In 2016, domestic sales accounted for 60% of the total
sales amount (341,979 million pesos).
Business
Development
2016: Petron Bataan Refinery’s upgrade to full
conversion was completed.
2016:
The Petron Malaysia Companies have completed the upgrading of the product
terminals to comply with the B7 biodiesel and U97 E4M requirements.
2017:
Petron reacquired the Refinery Solid Fuel Fired Power Plant (140MW) from SMC
PowerGen Inc.
Subsidiaries /
Associates / Affiliates / Joint Ventures
New Ventures Realty Corporation (“NVRC”) is authorized to
acquire and develop land but it does not engage in the subdivision business.
Land suitable for use as service station sites, bulk plants or sales offices
are purchased by NVRC, which are then leased to Petron.
Petrogen Insurance Corporation (“Petrogen”) serves the
insurance requirements of Petron and its allied business partners such as
contractors, suppliers and dealers.
Petron Freeport Corporation (“PFC”) is registered with
the Subic Bay Metropolitan Authority
(“SBMA”)
as a Subic Bay Freeport (“SBF”) enterprise. PFC is engaged in the business of
importing, transporting, trading and retailing petroleum products and related
products.
Limay Energen Corporation (“LEC”) provides power to
refinery facilities.
Petron Oil & Gas Mauritius Ltd. (“POGM”)
is
a holding company incorporated under the laws of
Mauritius
acquired by PCOR February 8, 2012. Petron Oil & Gas International Sdn. Bhd.
(“POGI”), a subsidiary of POGM incorporated under the laws of Malaysia,
acquired 65% of Esso Malaysia Berhad (“EMB”), a publicly-listed company in
Malaysia, and 100% of ExxonMobil Malaysia Sdn. Bhd. and ExxonMobil Borneo
Sdn. Bhd. Change of name of ExxonMobil Malaysia Sdn. Bhd. to “Petron Fuel
International Sdn. Bhd.” (“PFISB”) and of ExxonMobil Borneo
Sdn
Bhd. to “Petron Oil (M) Sdn. Bhd.” (“POMSB”) were approved in 2012.
PMRMB,
PFISB and POMSB (collectively, the “Petron Malaysia Companies”) are engaged
in the ownstream oil business in Malaysia. The Petron Malaysia Companies’
distribution network includes nine (9) product terminals and one depot. The
Petron Malaysia Companies has a network of approximately 580 retail service
stations in the country.
Petron Singapore
Trading Pte., Ltd. (PSTPL) is in charge of crude oil procurements.
|