Petron Corporation

“we fuel success”

 PETRON’S HISTORY
• Socony Vacuum Oil Company of New York and the
Standard Oil Company of New Jersey merged to form the
1933 Standard Vacuum Oil Company or Stanvac.

• Stanvac started constructing a refinery in the province of

Limay, Bataan to meet the country’s growing fuel needs.
1957

• gave birth to Esso Philippines.

1962
 • the Philippine National Oil Company (PNOC) acquired Esso
Philippines at the height of the first oil crisis and renamed it
1973 Petrophil Corporation.

• Petron name came from petroleum (PET) and research octane

number (RON)
1988

• PNOC partnered with the world’s largest crude oil producer,

Saudi Aramco, to give Petron a reliable crude supply.
1990s
• Petron marked its diversification into the petrochemical business by
constructing units that allowed the production of raw materials to make
everyday products such as car parts, home appliances, food packaging, and
2000 plastic containers
 • San Miguel Corporation (SMC) started managing Petron.
2009
• Petron was conferred with the Gold Trusted Brand Award in the
Petrol Station category by Reader’s Digest
2010

• Petron Bataan Refinery celebrated its 50th anniversary with the

launch of its Expansion Project (RMP-2).
2011

• Petron acquired ExxonMobil’s downstream business in Malaysia in

with XCEL Petroleum.
• Petron officially opened their Malaysian operations, rebranding all
2013 Esso and Mobil stations across Peninsular Malaysia.

Updated last august 16, 2016, at 13:38

Petron’s Board of Directors

Eduardo M. Cojuangco, Jr. Ramon S. Ang

Chairman President, CEO & Executive
Since February 10, 2015 Director
 Petron’s Board of Directors

Lubin B.
Nepomuceno
Director & General Eric O. Recto Estelito P. Mendoza
Manager Director Director
Petron’s Board of Directors

Jose P. De Jesus Ron W. Haddock

Director Director
 Petron’s Board of Directors

Aurora T. Calderon Romela M. Bengzon

Director Mirzan Mahathir Director
Director
 Petron’s Board of Directors

Virgilio S. Jacinto
Director

Artemio V.
Panganiban
Nelly Favis-Villafuerte Independent Reynaldo G. David
Director Director Independent Director
Petron’s Financial
Standing
Petron Controversies
Referendum Vs. Oil Depot Ordinance Filed
August 26, 2009
A PEOPLE’S INITIATIVE was filed with the Commission on Elections
(Comelec) that seeks to repeal an ordinance allowing the continued
operation of the Pandacan oil depot as well as other medium and heavy
industries in Manila. Councilor Lourdes Isip-Garcia that the group, led by
the organizations Manileño Kontra Abuso and Tanggulan ng mga Barangay
Kagawad sa Tondo Foreshore (TABAK-TF), filed the petition due to the
inaction of the Manila city council on the petition against the ordinance
signed by over 2,000 residents and filed on June 23.
• The petition seeks to repeal Ordinance 8187 which mainly allowed the
continued operation of the oil depot in Pandacan by Pilipinas Shell
Petroleum Corp., Caltex Philippines (renamed Chevron Philippines, Inc.)
and Petron Corp.
• “Our aim is very clear. We are fighting for the relocation of the Pandacan
oil depot to the countryside where it will not pose any danger or harm
to people, or cause any potential destruction to property,” TABAK-TF
President Danilo C. Isiderio said.
Petron hits oil smuggling
April 2, 2013
About one in every three liters of gasoline or diesel sold in the country
is smuggled, resulting in P30 billion to P40 billion in yearly forgone revenue
on the part of the government, according to the head of the country’s
biggest oil refiner. The forgone revenue estimate is bigger than what the
government expects to generate this year from higher taxes on sin products.
Ramon S. Ang, Petron Corp. chairman and chief executive officer, said
studies from 2007 to 2011 showed that smuggled oil products “now
account for at least a third of the total volume sold in the market.”
“(Our) retail or service station volumes have remained flat despite the
fact that registered vehicles increased from 5.5 million to 7.1 million over
the period,” Ang said in a phone interview.
“On top of lost government revenue and an uncertain investment climate
in the oil industry, smugglers are cheating consumers since these products
are of uncertain quality,” he said.
Ang said the uncontrolled oil smuggling in the country “is tax evasion in
another form.”
Oil Spill in Manila Bay
August 10, 2013
Petron Corporation has acknowledged its pipeline in Cavite Province
leaked half a million liters of diesel fuel into Manila Bay which affected over
30 villages in the province. Petron is the largest oil refining and marketing
company in the Philippines, supplying more than a third of the country’s oil
requirements.
“We take full responsibility for this unfortunate event,” said Petron
President Lubin Nepomuceno today. “We apologize and assure affected
communities that we will do our best to resolve the situation as soon as
possible.”
The spill was first spotted on Thursday, August 8. Petron management
had denied that the oil leak originated from its underwater pipeline, which
company officials said was already sealed at the time of the oil spill
incident. Coast Guard announced they could not determine where the oil
originated, as President Benigno Aquino III ordered government agencies to
clean up and recover the fuel that caused a red slick on 300 square
kilometers of the 2,000 sq km bay, the busiest waterway in the country.
Officials estimate 500,000 liters of diesel fuel
extend along 20 kilometers of the coastline of
Cavite Province. Dead fish floated on the
surface of the bay and some residents became
sick from inhaling the fumes.
Clemente Bautista, national coordinator of
Kalikasan PNE, on Sunday noted that this spill
comes on the seventh anniversary of the
Guimaras oil spill caused by Petron
Corporation in Manila Bay off the coast of
Cavite.
“Exactly seven years after the worst maritime
oil disaster in the Philippines caused by
Petron in the province of Guimaras, the same
oil giant has caused a repeat performance in
Manila Bay with yet another oil spill affecting
several towns in Cavite province. It’s the same
story over again: fish and shellfish kills,
affected coral reefs, and immediate impacts
on the health and livelihood of coastal
communities,” said Bautista.
Rosario gov't issues cease
and desist order vs. Petron
August 13, 2013

The municipal government of Rosario, Cavite issued a cease and desist

order against oil giant, Petron Corp., due to the oil spill that affected four
towns in the province.
"Hangga't hindi naaayos ang problema, tigil-operasyon muna sa dagat.
Inamin na nila. Nag-isyu na tayo ng cease and desist order ngayong umaga,"
Ricafrente said.
The mayor said that the cease and desist order does not cover Petron's
operations in its oil depot, but said that oil from the depot must be
transported through other means that would not require the use of the
underwater pipeline, which caused the oil spill.
In a statement issued Monday, Petron president Lubin Nepomuceno
claimed responsibility for the oil spill that has affected 35 villages in Rosario,
Naic, Tanza and Ternate towns.
“At this stage, we take responsibility for this unfortunate incident. We
sincerely apologize and assure all the communities affected that we will strive
to resolve the situation at the soonest possible time,” Nepomuceno said.