Category: Petron Corporation

Petron bags Anvil Gold Legacy Award

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Only two years after bagging the Anvil Hall of Fame Award, industry leader Petron Corporation marked another milestone as it bagged the Gold Legacy Award from the Public Relations Society of the Philippines (PRSP) for its Vision Petron Art Collaterals. Petron, one of only three awardees, was recognized at the 50th Anvil Awards for its consistent wins over the years. The Anvil is the symbol of excellence in public relations in the Philippines.

Petron has won nine Excellence and one Merit Award for its Vision Petron Collaterals, a set of printed materials that accompany every Vision Petron National Student Art Competition. In 2001, its first set of collaterals depicting indigenous Filipino games, earned the very first Bronze Award of Excellence from Anvil. It won during the same year the Bronze Anvil from the Public Relations Society of America (PRSA).

Apart from the Anvil Gold Legacy Award, the market leader also earned Silver Awards for the Vision Petron 2014 Program and the Vision Petron 2014 Folio. The 2014 Vision Petron competition, themed “Lakbay Panata—My Journey, My Pledge,” produced a record 2,827 entries submitted in the various competition categories. Now celebrating its 15th year, Vision Petron is a multi-awarded annual art competition for students enrolled in colleges and universities all over the country.

Formerly Art Petron, the program evolved into Vision Petron in 2011 to accommodate more art media, such as t-shirt art design and video-making, in addition to painting and photography.

Meanwhile, Petron’s trademark Lakbay Alalay motorist assistance program also earned a Gold Anvil Award in the Specialized Public Relations Program: Advocacy Campaign category, and a Silver Anvil Award in the Public Relations Program Directed at Specific Stakeholders: External Consumers category. Lakbay Alalay is the country’s longest running motorist assistance, and is entering its 30th year of public service.

As the only and biggest Filipino fuel refiner, Petron has a deep understanding of the needs of Filipino motorists, and takes pride in its capability to formulate world-class products. Petron now has the largest service station network in the Philippines with about 2,200 stations nationwide. These range from mega stations with many convenience facilities and partner establishments located along the expressways, to small, strategically-located micro-filling stations in remote, rural locations—all designed to bring Petron closer and more accessible to Filipino motorists from all walks of life.

Petron posts better-than-expected income in 2014, sales volumes surge 6%

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Amid the collapse of crude and finished product prices in the 2nd half of 2014, the Philippines’ leading oil company Petron Corporation posted a better-than-expected consolidated income of P3 billion for the year, lower than the previous year’s P5.1 billion. This would have been much higher if not for the net inventory loss of P6.5 billion.

The Company said that the 9% increase in Philippine sales volumes, the completion of strategic projects, and pro-active risk-management cushioned the impact of higher priced inventory being sold at lower prices in the 2nd half of the year. The price of benchmark Dubai crude fell by 44% from an average of US$108/barrel in June to an average of only US$60/barrel in December. This extraordinary development had a negative effect on oil companies around the world. The same situation happened in 2008 when global oil prices collapsed resulting in a P3.9 billion loss for Petron.

Petron said that combined sales from both its Philippine and Malaysian operations increased by 6% to 86.5 million barrels in 2014 versus 81.7 million barrels the previous year. As a result, sales revenues grew by 4% to P482.5 billion in 2014 from P463.6 billion in 2013. In its home market, sales volumes surged to 51.5 million barrels as Petron made headway in major market segments namely Retail, LPG, and Lubricants. Backed by the most extensive network in the country with 2,200 stations, retail volumes surged by 6% – the highest growth in the past 5 years. LPG volumes likewise grew by 5% supported by higher retail and industrial sales.

“Despite a difficult environment, we rose to the challenge and delivered strong results. We focused on completing major projects to unleash the full potential of our strategic assets and further cement our leadership in the industry,” Petron President and CEO Ramon S. Ang said.

Petron is commissioning its US$2-billion Refinery Master Plan Phase 2 (RMP-2) at its 180,000 barrel-per-day Bataan refinery. RMP-2 is expected to change the rules of the domestic oil industry. Petron will be the only company that can locally produce Euro-4 compliant fuels and provide extra volumes to other oil players. It also gives Petron a competitive edge since it raises the bar in fuels technology and quality. This project will help improve the supply security of the country at a time the Philippines is experiencing unprecedented economic growth.

Barely three years since entering the highly-competitive Malaysian market, nearly 550 stations now carry Petron’s distinct red and blue colors, have upgraded facilities, and more importantly, offer premium fuels and innovative services. The Company completed 10 new service stations in 2014 and about 20 more sites are in various stages of construction and commissioning.

“The completion of our rebranding and upgrading program is a significant milestone since it lays the foundation for our further expansion in the Malaysian market. We are pleased to note that we are gaining the trust and confidence of consumers there,” Mr. Ang added.