Petron completes phase 1 of retail network expansion

Petron Corp., the Philippines’ leading oil refining and marketing company said it has completed the first phase of its retail network expansion program. In a statement, Petron Chairman and Chief Executive Officer Ramon Ang said that the company has accomplished its target of setting up 200 new stations across the country from January 2009 to January 2010. Of the 200 Petron service stations opened last year, 84 are located in Luzon, 48 in Visayas and 68 in Mindanao. At present, Petron accounts for 30% of the country’s total oil industry service station count. (February 10, 2010)