LISTED oil refiner Petron Corp. reported an 84% increase in net income to P15.6 billion in 2025, driven by sustained domestic volume growth, improved refinery productivity, and lower costs.
Revenues declined by 7% to P810 billion from P868 billion in 2024 as a consequence of weaker international prices, the corporate said in a press release on Tuesday. Petron has yet to release its full financial report for the period.
Petron’s operations within the Philippines and Malaysia posted a 3% year-on-year increase in total volumes to 113.4 million barrels.
The corporate said it maintained its leadership within the domestic market “amid tough competition.”
Volumes in Malaysia, meanwhile, remained regular “despite the demand correction following the change within the government-regulated pricing mechanism for fuels.”
Petron, which operates the country’s only remaining refinery, said it optimized plant utilization and benefited from favorable refining economics last yr.
This got here amid a weaker average price of Dubai crude, the regional benchmark, partly as a consequence of geopolitical developments and policy changes.
“Despite external challenges, we achieved growth across the business and emerged stronger in an unpredictable market,” Petron President and Chief Executive Officer Ramon S. Ang said.
He said the corporate would proceed strengthening its supply chain and strategically expanding its footprint because it reinforces its position within the industry.
Petron retained its position because the Philippines’ top oil market player, with a 27.8% share as of the primary half of 2025, in line with the Department of Energy.
The corporate operates 50 terminals across the region and about 2,700 service stations and maintains a refining capability of nearly 270,000 barrels per day.
On the local bourse on Tuesday, Petron shares rose 7.14% to shut at P3.30 apiece. — Sheldeen Joy Talavera