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PETRON CORPORATION: COMPANY OVERVIEW

Petron Corporation (PCOR) is the leading refiner,

marketer and distributor of petroleum-based products in the

Philippines, supplying nearly 40% of the country's oil

requirement. Petron refines crude oil into various fuel

products including gasoline, diesel, liquefied petroleum gas

(LPG), jet fuel, kerosene, industrial fuel oil, and

petrochemical feedstock benzene, toluene, mixed xylene,

and propylene. It operates a refinery in Limay, Bataan with a

total output capacity of 180,000 barrels per day. Petron has

remained a steadfast ally in the significant socio-economic

changes in the Philippines by powering industries, fueling

economic growth and uplifting lives.

A BRIEF HISTORY

Petron traces its rich heritage to September 7, 1933 when Socony Vacuum Oil Company

of New York and the Standard Oil Company of New Jersey merged to form the Standard

Vacuum Oil Company or Stanvac. After suspending operations in World War II, Stanvac

promptly resumed its operations in 1945.

In 1957, Stanvac started constructing a refinery in the province of Limay, Bataan to meet

the country’s growing fuel needs. At the time of its inauguration in 1961, it had a refining

capacity of 25,000 barrels of crude oil per day.

The end of Standard Oil and Socony Vacuum’s partnership in 1962 gave birth to Esso

Philippines. In 1973, the Philippine National Oil Company (PNOC) acquired Esso Philippines at

the height of the first oil crisis and renamed it Petrophil Corporation.

In February 1988, Petrophil was rechristened Petron Corporation. Petron came from

petroleum (PET) and research octane number (RON). Amid the most difficult and trying times

that the country faced, including the Gulf War of 1991, Petron readily worked hand-in-hand with

the national government in ensuring an uninterrupted and reliable supply of petroleum products.

DEVELOPMENT

The 1990s saw the full deregulation of the local oil industry. In preparation for this, the

Philippine National Oil Company (PNOC) partnered with the world’s largest crude oil producer,

Saudi Aramco, to give Petron a reliable crude supply and access to state-of-the art refining and

marketing technology.

In 2000, 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 plastic containers among others.

To give motorists a one-stop full service experience, Petron partnered with leading fast

food chains and consumer-service companies to make its service stations—particularly its mega

stations or Petron Express Centers—a travelers’ oasis. Petron also introduced various automotive

fuels that meet the unique requirements of the motoring community, such as Petron XCS, Petron

Diesel Max, and Petron Blaze.

Currently, as a public company listed on the Philippine Stock Exchange, Petron is owned

by Philippine food and beverage giant San Miguel Corporation (SMC) with a 51% stake while

Ashmore Group owns 40%. The remaining shares--about 9% are held by the public.

DISTRIBUTION

The 180,000 barrel-per-day refinery converts crude oil into various petroleum products

and petrochemical feedstock. From the refinery, Petron ferries their products in 32 Petron depots

and terminals nationwide via barges and marine vessels. From its depots and terminals, products

are delivered via a modern fleet of tank trucks. Products are distributed among industrial

consumers and retail network. Petron fuels essential industries such as power generation,

manufacturing, transport, agriculture, etc. that power the nation forward.

VISION

To be the leading provider of total customer solutions in the energy sector and its

derivative businesses.

MISSION

Being an integral part of our customers' lives, delivering consistent customer experience

through innovative products and services;

Developing strategic partnerships in pursuit of growth and opportunity;

Leveraging on our refining assets to achieve competitive advantage;

Fostering an entrepreneurial culture that encourages teamwork, innovation, and

excellence;

Caring for community and the environment;

Conducting ourselves with professionalism, integrity, and fairness; and

Promoting the best interest of all our stakeholders.

PRODUCTS AND SERVICES

As a Filipino Company, Petron has a unique understanding of the local market. Thus,

each of their products has been especially formulated to meet the needs and lifestyle of the

consumers.

PRODUCTS SERVICES

Automotive Fuels

Automotive Lubricants

Liquefied Petroleum Gas (LPG)

Polypropylene

Petron Car Care Center

Petron Lube Center

Petron Metrocenter

One-stop Service Convenience

Petron Cards