Petron Corporation, the Philippines’ largest oil company, just posted its best financial performance ever. The company earned a net income of ₱15.6 billion in 2025, which is 84% more than what it made in 2024 (₱8.5 billion). To put it simply, the company almost doubled its profits in just one year!
What Helped Petron Earn More Money?
Petron’s record earnings were driven by sustained domestic volume growth, improved productivity at the company’s refineries in the Philippines and Malaysia, and savings on financing cost alongside its effective working capital management, according to the company’s disclosure filed with the Securities and Exchange Commission on March 3, 2026.
Selling More Fuel
Total volumes in the Philippines and Malaysia reached 113.4 million barrels, 3% higher than 2024’s 110 million barrels. Think of it like this: if Petron sold 110 buckets of fuel in 2024, they sold 113.4 buckets in 2025. Even though it’s just a small increase, selling more products means more money coming in.
Petron continued its dominance in the local market amid tough competition, while volumes in Malaysia remained steady.
The Only Refinery Left in the Philippines
What makes Petron special is that it operates the only remaining refinery in the Philippines. A refinery is like a big factory that turns crude oil (the raw material) into useful products like gasoline, diesel, and LPG (cooking gas). Since Petron is the only company with this capability in the country, it has a unique advantage.
The company was able to optimize its plant utilization and benefit from favorable refining economics during the year. This means their refineries worked more efficiently, producing more fuel at lower costs.
Lower Oil Prices Actually Helped
You might think lower oil prices would hurt an oil company, but in Petron’s case, it helped their refining business. The average price of Dubai crude, the regional benchmark, stood at USD69 per barrel for 2025, marking a 13% decline compared to the previous year. When crude oil is cheaper to buy, refineries can process it into products and sell them at better profit margins.
Revenue vs. Operating Income: Understanding the Difference
Revenues for 2025 fell 7% to ₱810 billion from ₱868 billion in the previous year due to lower international prices. Revenue is the total money a company collects from selling its products. Even though Petron’s revenue went down because oil prices were lower, this doesn’t tell the whole story.
What really matters is operating income—the profit after paying for all the costs of running the business. Operating income stood strong at ₱37.3 billion, 28% higher than 2024’s ₱29.2 billion. So even though Petron collected less total money, it kept more of it as profit because it managed its costs well.
What the Company Leader Says
Petron President and CEO Ramon S. Ang explained: “Despite external challenges, we achieved growth across the business and emerged stronger in an unpredictable market.”
He added that the company will continue to strengthen its supply chain, expand strategically, and contribute more to nation-building while solidifying its leadership position in the industry.
Petron’s Market Position: The Biggest Oil Company
According to the latest figures from the Department of Energy (DOE), Petron grew its market share as the leading oil company in the Philippines to 27.8% in the first half of 2025, up from 25% in 2024. This means that out of every 100 liters of fuel sold in the Philippines, about 28 liters came from Petron.
Petron also retained its dominant position in the LPG sector, capturing 25.1% of the market. LPG is the cooking gas that many Filipino families use at home, so Petron is also the leader in this important product.
About Petron Corporation
Petron Corporation is a publicly listed company on the Philippine Stock Exchange with the stock symbol PCOR. According to the disclosure, the company has 143,349 stockholders as of December 31, 2025, and a total consolidated debt of ₱216,377 million.
The company operates refineries in both the Philippines and Malaysia, and it has been expanding its network of gas stations across the country. Being the only remaining refinery operator in the Philippines gives Petron a strategic position in the country’s energy security.
Source Note:
This article is based on the company’s official press release and disclosures filed with the Philippine Stock Exchange’s Electronic Disclosure Generation Technology (PSE EDGE) system. For the complete and official version of the announcement, readers may visit the PSE EDGE website and search for the company’s filing directly.
