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|Petron Corporation (PCOR) was incorporated on December 22, 1966 as Esso Philippines, Inc. (Esso) and later renamed to Petrophil Corporation (Petrophil) when the Philippine National Oil Company (PNOC) acquired Esso. In 1985, Petrophil and Bataan Refinery Corporation were merged, with Petrophil as the surviving corporation. Petrophil changed its corporate name to the present one in 1988.
PCOR's principal business involves the refining of crude oil and the marketing and distribution of refined petroleum products including gasoline, LPG, diesel, jet fuel, kerosene, asphalts and petrochemicals. The Company continues to have a tie-up with San Miguel Group for the "San Mig Avenue" convenience stores at the stations. In 2014, PCOR re-launched the "Treats" store as the secondary retail store brand found in PCOR service stations.
PCOR's direct subsidiaries are New Ventures Realty Corporation; Petrogen Insurance Corporation; Overseas Ventures Insurance Corporation Ltd.; Petron Freeport Corporation; Petron Marketing Corporation; Limay Energen Corporation; Petron Singapore Trading Pte. Ltd.; Petron Global Limited; Petron Finance (Labuan) Limited; Petrocheminal Asia (HK) Limited; and Petron Oil & Gas Mauritius Ltd. (POGM).
Petron Oil & Gas International Sdn Bhd (POGI) is a subsidiary of POGM which, on March 30, 2012, acquired 65% of Esso Malaysia Berhad (EMB), a publicly-listed company in Malaysia, and 100% ExxonMobil Malaysia Sdn Bhd (ExxonMobil Malaysia) and ExxonMobil Borneo Sdn Bhd (ExxonMobil Borneo). POGI subsequently acquired an additional 8.4% of the voting shares of EMB in May 2012 pursuant to a mandatory takeover offer. On April 23, 2012, the Companies Commission of Malaysia (CCM) issued a certificate for the change of name of ExxonMobil Malaysia to Petron Fuel International Sdn Bhd (PFISB) and of ExxonMobil Borneo to Petron Oil (M) Sdn Bhd (POMSB). Thereafter, on July 10, 2012, the CCM issued a certificate for the change of name of EMB to Petron Malaysia Refining & Marketing Bhd (PMRMB). PMRMB, PFISB, and POMSB are collectively called Petron Malaysia Companies and are engaged in the downstream oil business in Malaysia.
Source: SEC Form 17-A (2015)
|Subsector||Electricity, Energy, Power & Water|
|Number of Directors||15|
|Stockholders' Meeting as per By-Laws||Third Tuesday of May|
|Fiscal Year||12/31 (Month/Day)|
|External Auditor||R.G. Manabat & Co.|
|Transfer Agent||SMC Stock Transfer Service Corporation|
|Business Address||SMC Head Office Complex, 40 San Miguel Avenue, 1550 Mandaluyong City|