Petron Clarifies Sale Rumors: CEO Has the Willingness to Sell, but No Ongoing Negotiations
NewTimeSpace News: On March 30, 2026, Petron Corporation of the Philippines released an announcement to clarify the report published by GMA News Online on March 27, which stated that "Ramon Ang plans to sell Petron to the government amid oil price shocks".
The announcement showed that Ramon Ang, CEO of Petron Corporation, had indeed made the relevant remarks, saying that he is willing to sell the company to the government if the latter deems it capable of operating Petron better and alleviating the burden on the public brought by global oil price shocks. This sales proposal, first put forward to the Congress in 2021, remains valid.
Meanwhile, the announcement clearly pointed out that the above statement was made in response to the Philippine government's need to address the current fuel crisis and safeguard the country's overall economic interests. However, up to now, there have been no ongoing negotiations between Petron and the Philippine government regarding the sale of Petron.
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