San Miguel Corporation Chairman Ramon Ang has renewed his offer to sell Petron Corporation back to the Philippine government amid growing concerns over energy security. Ang stated that the proposal, first made in 2021, remains open and could be structured in tranches at fair market value to avoid large upfront costs for the government. He emphasized the strategic importance of the Petron Bataan refinery, which processes about 180,000 barrels per day and supplies roughly a third of the country's fuel demand. Ang noted that maintaining domestic refining capacity is crucial, especially amid global disruptions affecting oil supply and rising fuel prices. He added that the final decision depends on what would best serve the national interest as the country navigates the ongoing energy emergency.
