verification . please help improve this article by adding citations to reliable sources . unsourced material may be challenged and removed . july 2010 learn how and when to remove this template message petron corporation type public corporation industry oil and gas founded 1933 ; 83 years ago 1933 headquarters petron megaplaza makati city philippines key people eduardo cojuangco jr. chairman 1 ramon s. ang president and ceo 2 lubin b. nepomuceno general manager 3 products oil natural gas oil refining revenue 5.5 billion usd 2014 net income 99.0 million usd 2009 total assets 2.63 billion usd 2009 total equity 872.91 million usd 2009 number of employees 9 236 nationwide parent san miguel corporation 68.26 % 4 website www.petron.com petron corp. s headquarters in makati city philippines . petron corp. pse pcor is the largest oil refining and marketing company in the philippines supplying more than a third of the country s oil requirements . petron operates a refinery in limay bataan with a rated capacity of 180 000 barrels per day 29 000 m3 d . from the refinery petron moves their products mainly by sea to 32 depots and terminals in the country . they operate a lube oil blending plant at their pandacan terminal where it manufactures lubes and greases . petron is public company listed on the philippine stock exchange . a 51 percent stake is owned by the philippine food and beverage giant san miguel corporation smc while the ashmore group owns 40 percent . the remaining shares about 9 percent are held by the public . contents 1 history 2 products and services 3 headquarters 4 sports team 5 references 6 external links history edit petron s history dates back to september 7 1933 when the socony vacuum oil company of new york and standard oil of new jersey formed the standard vacuum oil company stanvac . the end of the venture in the early 1960s split the marketing and refining interests of the company between mobil the renamed socony vacuum oil company and esso the renamed of standard oil new jersey soon to be exxon with its philippine branch now named esso philippines with offices in manila and later on in makati . in 1953 the philippine national government partly to promote claro m. recto s national industrialization program and partly to respond to increasing international oil prices attempted to launch a national oil company that caters filipino consumers with cheap oil . filoil the first philippine oil company was established as a result becoming the first national oil firm in southeast asia . in 1973 esso sold its business to the government which became the philippine national oil company pnoc . subsequently mobil also sold its share of the refinery to pnoc . the oil refining and marketing units in pnoc along with filoil were eventually merged to form petrophil which was later renamed as petron corporation in 1988 . today the company s industrial earnings have never seen such high gains but still trade within the average global yield . the name petron used to be a gasoline brand of petrophil . launched in 1974 the name came from petroleum pet and research octane number ron . 5 as part of the government s privatization program pnoc sought a strategic partner that would give petron a reliable supply of oil plus access to state of the art refining technology . the result was a partnership with the world s largest oil producer saudi aramco . on february 3 1994 pnoc and aramco overseas co. bv signed a share purchase agreement that gave both a 40 % stake in petron . the remaining 20 % of petron shares were sold to the public . on august 11 2006 a petron oil tanker the solar 1 carrying fuel oil sank causing the guimaras oil spill the biggest oil spill in philippine history . at the beginning of 2008 the philippine national oil company pnoc and saudi aramco each owned 40 % of the outstanding stock with the remaining 20 % held by thousands of individual stockholders . in 2008 saudi aramco sold its entire stake to the ashmore group a london listed investment group . then ashmore added 11 percent more when it made a required tender offer to other shareholders for a total stake of 51 percent . as of july 2008 ashmore through its sea refinery holdings bv had a 50.57 percent of petron s stock . 6 ashmore s payment was made on december 2008 . 7 in december 2008 ashmore acquired pnoc s 40 percent stake . on december 2008 san miguel corporation said it was in the final stages of negotiations with the ashmore group to buy up to 50.1 percent of petron . 8 on march 30 2012 petron acquired exxonmobil s downstream business in malaysia in with xcel petroleum . in january 2013 petron officially opened their malaysian operations rebranding all esso and mobil stations across peninsular malaysia . 9 products and services edit petron oil station located beside the daily express building in kota kinabalu sabah malaysia . the company s iso 14001 certified refinery processes crude oil into a full range of petroleum products including lpg gasoline diesel jet fuel kerosene industrial fuel oil solvents asphalts and mixed xylene . with their iso 9000 2000 certified lube oil blending plant they are also able to produce mechanical lubricants and grease . these products are also sold through service stations and sales centers and directly to industrial customers . through their nationwide network they supply fuel oil diesel and lpg to various industrial customers . petron s largest client is in the power sector . they also supply jet fuel at key airports to international and domestic carriers . through more than 1 200 service stations they retail gasoline diesel and kerosene to motorists and public transport operators . they also sell their lpg brand gasul to households and other consumers through an extensive dealership network . petron is expanding to non fuels businesses which include convenience store brand treats . they have partnered with major fast food chains coffee shops and other consumer services to give customers a one stop full service experience . they are also putting up additional company owned and operated service stations in strategic locations . petron also opened its first fuel additives blending plant in the asia pacific region at the subic bay freeport zone in november 2008 . the plant has the capacity to blend 12 000 metric tons mt of fuel additives per year . when used in gasoline diesel or fuel oil fuel additives improve efficiency boost engine performance and benefit the environment by reducing harmful emissions . the facility was constructed in partnership with innospec a leading global fuel additives supplier based on an agreement forged in 2006 . as part of the agreement petron constructed and operated the plant to serve the requirements of innospec s customers in the region including petron . traditionally innospec products used in asia have been sourced from europe . in april 2008 petron also commissioned the country s first petrochemical feedstock units namely the petro fluidized catalytic cracking petrofcc unit and a propylene recovery unit pru at its 180 000 barrel 29 000 m3 per day bataan refinery . the petrofcc the first cracking unit of its kind in the world converts black products fuel oil into higher value lpg gasoline and diesel and yields a higher level of the petrochemical feedstock propylene than typical fcc units . the pru further purifies the propylene so that it can be used in making various petrochemical products that are used to manufacture everyday items such as food packaging appliances suitcases furniture dvds and even car parts . headquarters edit located at the heart of buendia avenue in makati city the company s headquarters the petron megaplaza is a 45 storey building with floor plate area of about 15 512 square meters which was the philippines tallest building before being topped by the pbcom tower in ayala avenue . sports team edit petron blaze spikers references edit http www.abs cbnnews.com business 02 10 15 petron appoints danding cojuangco chairman http www.abs cbnnews.com business 02 10 15 petron appoints danding cojuangco chairman http www.abs cbnnews.com business 02 10 15 petron appoints danding cojuangco chairman page 48 definitive information statement san miguel corp. may 13 2011 road trip . top gear philippines . p. 9 . ashmore gets majority of petron . inquirer.net . 2008 07 23 . retrieved 2010 08 05 . ashmore pays p25 .7 b for stake in petron . inquirer.net . 2009 01 05 . retrieved 2010 08 05 . san miguel tightens grip on petron . inquirer.net . 2008 12 24 . retrieved 2010 08 05 . introducing petron corp. of the philippines now in malaysia pdf . petron corp. retrieved 2013 01 23 . external links edit official website official website malaysia petron mega plaza details petron corporation on facebook petron corporation on twitter v t e san miguel corporation founder enrique mar a barretto de ycaza chairman and ceo eduardo cojuangco jr. vice chairman president and coo ramon s. ang core subsidiaries san miguel brewery ginebra san miguel san miguel pure foods company san miguel yamamura packaging corporation san miguel properties new investments petron corporation smc global power holdings corporation san miguel energy corporation private infra development corporation tplex citra metro manila tollways corporation metro manila skyway iii slex alloy manila toll expressways vertex tollways development naia expressway universal lrt corporation mrt 7 trans aire development holdings corporation caticlan airport cypress tree capital investments star tollway optimal infrastructure development inc. bank of commerce vega telecom eastern telecom sports teams san miguel beermen barangay ginebra san miguel star hotshots magnolia purewater wizards defunct pop cola panthers defunct san miguel beermen abl defunct products and divisions san miguel pale pilsen ginebra san miguel gin magnolia magnolia brand red horse beer former key executives enrique mar a barretto de ycaza pedro pablo r xas antonio r xas de ayala andr s soriano andr s soriano jr. andr s soriano iii related articles red horse beer pambansang muziklaban mahou san miguel group headquarters 40 san miguel avenue mandaluyong metro manila v t e petroleum companies in the philippines major players caltex petron shell independent players eastern flying v jetti phoenix ptt seaoil total unioil v t e pse composite index companies of the philippines ayala aboitiz equity ventures alliance global ayala land aboitiz power bdo bloomberry resorts bpi dmci edc emperador first gen globe gt capital ictsi jollibee jg summit lt group metrobank megaworld meralco metro pacific petron pldt robinsons land semirara mining sm investments san miguel sm prime universal robina retrieved from https en.wikipedia.org w index.php title petron corporation & oldid 735511598 categories oil and gas companies of the philippinessan miguel corporation subsidiariescompanies based in makatienergy companies established in 1933non renewable 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