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Market share of major oil firms declines in Jan-June

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The market share of petroleum products from the country’s major oil firms dipped to 38.96 percent in the first semester from 46.4 percent in the same period last year.

This was mainly due to the decision of Petron Corp. and Pilipinas Shell Petroleum Corp. to cease their refinery operations during the period. Shell permanently shut down its refinery operations in Tabangao, Batangas since August last year.

Petron’s refinery in Bataan was shut down in May 2020. It resumed operations in October last year. However, the facility was closed down again last February and opened last June.

Data from the Department of Energy showed that Petron’s market share went down to 18.6 percent in the first half from 21.94 percent a year ago.

Shell recorded a market share of 15.5 percent at end-June from last year’s 18.35 percent. Chevron, which closed down its refinery facility since 2003, recorded a market share of 4.86 percent in the first six months of the year from 6.12 percent in the first half of 2020.

The market share of the so-called Big 3 was also affected by stiff competition and aggressive expansion and marketing programs of smaller oil firms.

The market share of other players, meanwhile, increased to 52.29 percent at end-June this year. The balance of 8.45 percent is from end-users who imported directly most of their requirement.

These other players include Phoenix Petroleum, Seaoil, PTT Philippines, Total Philippines, Liquigaz, Prycegas, Unioil, Eastern Petroleum, Filoil, Jetti.

In terms of liquefied petroleum gas (LPG) market share, Petron still held the number one post at 18.96 percent; followed by Liquigaz, 23.85 percent; South Pacific, 21.61 percent; Islagas, 12.35 percent; Pryce Gases, 13.30 percent; Phoenix LPG, 8.03 percent;  Shell, .12 percent; and other LPG players at .17 percent.

Except for Petron, Shell and other LPG players, the rest recorded a higher market share during the period.

As for overall petroleum product demand, the share of gasoline products stood at 27.2 percent; diesel, 42.6 percent; kerosene, 3.7 percent; fuel oil, 4.6 percent; LPG, 13.3 percent and other products, 8.6 percent.

Read full article on BusinessMirror

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