Petron Corporation has reported a consolidated net income of PHP 5.3 billion for the first half of 2025, reflecting its operational resilience despite ongoing global oil market disruptions.

Crude prices plunged during the period due to rising geopolitical tensions in the Middle East, global tariff disputes, and the rollback of production cuts by OPEC+. Dubai crude hit a low of USD 64 per barrel in May before recovering to USD 69 in June, averaging USD72 in the first half—14% lower than last year’s USD 83.

Petron’s Philippine retail volumes rose by 13%, driven by strategic marketing initiatives and optimized plant operations. “Our results continue to reflect our resilience in overcoming market challenges, while highlighting the strength of the Petron brand across different customers and industries,” said Petron President and CEO Ramon S. Ang in the SEC disclosure. “We remain confident in our ability to drive growth as we further enhance our operations towards greater efficiency and sustainability.”

Total consolidated sales volume, including Singapore trading, stood at 64.2 million barrels, a 7% decline from 69.1 million barrels in 2024. However, sales volume from the Philippines and Malaysia rose by 3% to 56.2 million barrels, buoyed by strong domestic retail performance.

Revenues reached PHP 386.4 billion, down 13% year-on-year due to falling oil prices and lower trading volumes in Singapore.

Petron also completed a successful bond issuance, raising PHP 32 billion—PHP 7 billion more than the PHP 25 billion base offer. Proceeds were used for redeeming Series D and E bonds and for general corporate purposes.

What do you think about Petron’s ability to remain profitable amid global oil price drops? What does this mean for the local refining sector? Let us know your thoughts.

Follow Power Philippines on Facebook and LinkedIn or join our Viber community for more updates.