Tighter competition shrinks major oil groups’ market share in 2017

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The market share of major oil companies dips in 2017 following a tighter competition and aggressive expansion program of the industry, the Energy Department said.

According to DOE’s Oil Supply/Demand Report, major oil companies Petron Corp., Pilipinas Shell Petroleum Corp., and Chevron Phils. contributed 54.6 percent of the demand for 2017.

Meanwhile, other players had a 36.8 percent share in the market.

These players include PTT Philippine Corp. (PTTPC), Total Phils., Seaoil Corp., TWA, Phoenix Petroleum Philippines Inc., Liquigaz, Petronas, Prycegas, Micro Dragon, Unioil, Isla LPG Corp., Jetti, Eastern Petroleum Corp., Perdido, SL Harbour, Filoil Energy Co., Petrotrade Phils. Inc., Marubeni, JS Union, JS Phils Corp. and South Pacific.

Meanwhile, the remaining 8.6 percent came from end-users who directly imported most of their requirements, the DOE said.

Petron remains the top oil company with a 27.62 percent market share, followed by Shell with 19.98 percent and Chevron with seven percent.

Meanwhile, Phoenix had a share of 6.2 percent and Seaoil with 5.2 percent.