• Petron eyes 5,000 service stations in four years

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    Petron Corp. is looking to more than double its service stations in the span of four years.

    Ramon Ang, Petron chairman and chief executive officer, said during the firm’s annual stockholders meeting held on Tuesday that Petron is looking to grow its service station networks to 5,000 in the span of three to four years.

    This after the company announced on Monday that it built its 1,000th service station under its four-year-old network expansion program, bringing the total number of Petron stations in the country to nearly 2,100.

    The 1,000th Petron service station under the program is in Guiuan, Samar.

    “Petron is in a period of unprecedented growth and expansion. Our network expansion program ensures that Petron’s premium products and services are more accessible to our countrymen, anytime, anywhere,” Ang said.

    At the end of 2012, Petron had 34.5 percent of the domestic retail market. Petron registered a lower net income in the first quarter of this year, as prices for oil relatively dropped during the period.

    The firm earlier reported that its consolidated net income of P2.2 billion during the first quarter of this year was lower than the P2.5 billion posted in same period of the previous year.

    Madelaine B. Miraflor

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