Petron Corporation closed 2025 with its strongest financial performance to date, reporting a net income of P15.6 billion, up 84% from P8.5 billion in 2024. This achievement was fueled 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.
Total volumes in the Philippines and Malaysia reached 113.4 million barrels, 3% higher than 2024’s 110 million barrels. Petron continued its dominance in the local market amid tough competition, while volumes in Malaysia remained steady despite the demand correction following the change in the government-regulated pricing mechanism for fuels.
The homegrown oil leader, which operates the only remaining refinery in the Philippines, was able to optimize its plant utilization and benefit from favorable refining economics during the year. Geopolitical events and policy changes kept the average price of Dubai crude, the regional benchmark, soft at USD69 per barrel for 2025, marking a 13% decline compared to the previous year.
While revenues for 2025 fell 7% to P810 billion from P868 billion in the previous year due to lower international prices, operating income stood strong at P37.3 billion, 28% higher than 2024’s P29.2 billion.
“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.
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. Petron also retained its dominant position in the LPG sector, capturing 25.1% of the market.