Petron Corporation

Petron Corporation (PCOR) was incorporated in 1966 as Esso Philippines, Inc. and later renamed to Petrophil Corporation when the Philippine National Oil Company (PNOC) acquired Esso. In 1985, Petrophil Corporation and Bataan Refinery Corporation (formerly Standard Vacuum Refining Corporation) were merged, with Petrophil as the surviving corporation. Petrophil later changed its corporate name to Petron Corporation. On March 4, 1994, PNOC sold 40% of its shares in PCOR to Aramco Overseas Company B.V. (AOC), a wholly owned subsidiary of Saudi Arabian Oil Company (Saudi Aramco).

PCOR's principal business involves the refining of crude oil and the marketing and distribution of refined petroleum products, mainly for the domestic market. The Company sells a full range of refined petroleum products, including industrial fuel oil, diesel, gasoline, liquefied petroleum gas (LPG), jet fuel, kerosene, asphalt, solvent and mixed xylene and propylene. Straight-run fuel oil, diesel, and mixed xylene and propylene are exported while lubricating oils and greases are manufactured at PCOR's Lube Oil Blending Plant at the Pandacan Terminal. When necessary, some refined petroleum products are imported.

From the refinery, PCOR moves its products mainly by sea to its 31 depots and terminals situated all over the country. Through this nationwide network, PCOR supplies fuel oil, diesel, LPG and jet fuel to various industrial customers, power companies and international and domestic carriers.

On March 13, 2008, AOC entered into a share purchase agreement with Ashmore Investment Management Limited. SEA Refinery Holdings B.V. (SEA BV), a company incorporated in the Netherlands and owned by funds managed by the Ashmore Group acquired Saudi Aramco's 40% interest in PCOR in July 2008.

On October 6, 2008, PNOC informed SEA BV and PCOR of its intent to dispose its 40% stake in the company. In December 2008, the 40% interest of PNOC in PCOR was finally purchased by SEA Refinery Corporation (SRC), a domestic corporation wholly-owned by SEA BV. In a related development, SEA BV sold a portion of its interest in PCOR equivalent to 10.1% of the issued shares to SRC. As of December 31, 2009, SEA BV is PCOR's parent company.

On December 24, 2008, San Miguel Corporation (SMC) and SEA BV entered into an option agreement granting SMC the option to buy the entire ownership interest of SEA BV in its local subsidiary SRC. The option may be exercised by SMC within a period of two years from December 24, 2008.

At present, PCOR has six subsidiaries, namely, New Ventures Realty Corporation, Petrogen Insurance Corporation, Overseas Insurance Corporation, Ltd., Petron Foundation, Inc., Petron Freeport Corporation, and Petron Marketing Corporation.

Source: SEC Form 17-A (2009)

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PCOR has been trading for a month now at the range of 13.8- 13.40...
I can wait for another month and see its uptrend again...
If it goes at 13 or even at 12, worth adding more... caveat....
"The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius."
-Alan Greenspan-
sir bordz tumaas na pcor Smile
bat po kaya lumipad to mga bosing? Big Grin
~In all your ways, acknowledge God.

Initializing Bazura Mode...
Locked in your Profits !!!
Buyback again 13.90-14.50....
International Sweet Heart Deal
"The gut-feel of the 55-year old trader is more important than the mathematical elegance of the 25-year old genius."
-Alan Greenspan-
noted! Cool
Hi guys!

I'd just like to share my thoughts on Petron Corporation (PCOR). Sometimes, I use psychology to see if a stock can still have momentum or the potential to go up tomorrow. In doing so, I check the list of the broker transactions for that particular stock on a particular day or week.

Tonight, I checked PCOR's broker transactions on Friday only. Here are the details of the transactions and my assumptions behind it (I only included the top 25 brokers):


Red - might sell on Monday, 7/4/2011
Blue - might buy back on Monday, 7/4/2011
Black - foreign buyers

[Image: pcorbrokerinfo7311b.png]

[Image: redteamv.png]

[Image: blueteam.png]

[Image: blackteamr.png]


With the amount of players trading this stock (13 bulls vs 10 bears), this can still have momentum come Monday. I am generally bullish on this stock come Monday because there are 5 foreign brokers who might buy this stock higher and some local brokerage firms might buy back this stock for day-trade. I am speculating that San Miguel Corporation and Petron Corporation have good earnings report, which triggered the prices of these stocks to go up last Friday.

*I didn’t include 203 Citiseconline because I generally regard this as public and can go 50-50. However, if I included Citisec, I would say they would be one of the sellers (bears) on Monday. I also didn’t include 219 Papa Securities because they can either buy more or sell tomorrow. DBP-Daiwa was net seller with 69.8M last Friday.
Twitter: @TraderTactics
Here is the news for Petron's upsurge last Friday!

Biz Buzz: Petron woos investors
By: the staff
Philippine Daily Inquirer
8:49 pm | Sunday, July 3rd, 2011

Leading oil refiner and retailer Petron Corp. sizzled at the stock market last week after market pundits learned that company officials were on an overseas road show. The expectation was that it would be the next entity in the San Miguel group to launch a secondary share sale to comply with the 10-percent minimum public float required by the Philippine Stock Exchange for continued listing. At present, only 8.5 percent of Petron is held and traded by the public.
San Miguel president Ramon Ang confirmed that there were investor briefings abroad for existing common shareholders of Petron. However, he was mum on whether such meetings would be a prelude to an equity deal to widen public float. In the past, he said that all San Miguel units would comply with the PSE ruling on public ownership. Listed firms falling short of the requirement have until November this year to do so.
If and when Petron is able to boost its public float soon, some market pundits believe that like parent San Miguel, the next goal would be to rekindle active investor interest and return to the roster of PSEi. Drumming up interest through the investor briefing is apparently part of this comeback bid.—Doris C. Dumlao
Twitter: @TraderTactics
[Image: pcor-8-1-11.jpg]
PCOR - Bullish AB=CD
Petron H1 income hits P6 billion on higher sales

PETRON Corp., one of the country’s oil refiners, on Monday reported that it posted a net income of P6 billion in the first half of the year, up 106 percent from P2.9 billion reported in the same period last year. 

In a disclosure to the Philippine Stock Exchange, Petron said sales revenues during the period increased to P134.9 billion compared with P115.4 billion a year ago. Export sales increased by 54 percent reaching 3.14 million barrels, which partly offset the drop in domestic volume sales of 1.9 million barrels as reduced motorist activity due to bad weather dampened demand. 

Despite the drop, Petron said it remains the industry leader with 38 percent share of the total market and continues to lead in retail, LPG and industrial market segments.

Petron added that margins also improved with sales of high-margin petrochemical feedstock such as propylene, benzene, toluene and mixed xylene of up to 1.7 million barrels during the period.

“While Petron continues to show strong results from its core businesses, we are now reaping the benefits from the production of higher-margin petrochemical feedstock,” Ramon S. Ang, company chairman and chief executive, said. 

He added that they are seeing more potential from the feedstock business and this is why “plans are underway to scale up refining operations and further increase Petron’s footprint in the domestic and international markets.”

Petron has embarked on a major upgrade of its Bataan refinery, committing an estimated P75 billion over the next few years to upgrade its 180,000 barrel-per-day capacity. 

The Bataan refinery is already the largest and most modern refining and petrochemicals complex in the country. Called the refinery expansion project, the upgrade will ensure the country’s supply security as it will give Petron’s refinery the flexibility to “digest” a wider array of crude oil types from various supply points.

“Clearly, we have been able to accelerate our growth momentum even as we come from an already record-breaking performance in 2010. Moving forward, we are confident and optimistic of Petron’s prospects in 2011 given the programs we have in place and in the pipeline,” Ang said.


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