Petron Corporation ended 2025 with its highest net income on record, booking PHP 15.6 billion in profit, up 84% from P8.5 billion in 2024, on the back of stronger domestic sales, improved refinery performance, and lower financing costs.

The oil major said total consolidated volumes in the Philippines and Malaysia reached 113.4 million barrels last year, 3% higher than the 110 million barrels recorded in 2024.

Petron, which operates the country’s only remaining refinery, said it optimized plant utilization and benefited from favorable refining margins during the year. The average price of Dubai crude, the regional benchmark, stood at USD69 per barrel in 2025, down 13% from the previous year amid geopolitical developments and policy shifts.

Despite a softer pricing environment, the company’s operating income rose 28% to PHP 37.3 billion from PHP 29.2 billion in 2024.

Revenues, however, declined 7% to P810 billion from P868 billion previously, reflecting lower international oil prices.

In the Philippines, Petron said it maintained market leadership amid intense competition. Citing the latest data from the Department of Energy, the company said its domestic market share reached 27.8% in the first half of 2025, up from 25% in 2024. It also retained its lead in the LPG segment with a 25.1% share.

In Malaysia, volumes remained steady despite demand adjustments following changes in the government-regulated fuel pricing mechanism.

“Despite external challenges, we achieved growth across the business and emerged stronger in an unpredictable market,” Petron President and CEO Ramon S. Ang said.

“Our historic performance in 2025 highlights the resilience of our strategy, which not only sustains our growth but also defies industry trends. We will continue to strengthen our supply chain, strategically expand our footprint, and make a more meaningful contribution to nation-building as we continue to solidify our leadership position in the industry,” he added.

How do you see Petron’s performance shaping competition, pricing dynamics, and future downstream investments in the Philippine oil sector? Join the discussion.

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