Ramon Ang Says Petron Is on the Table If State Wants In

Business tycoon Ramon Ang said Petron is ready to cooperate with the government as the country deals with a painful oil price shock tied to the Middle East crisis. In a striking statement, he even said the government could buy Petron from him if officials believe that would better serve the public.

According to GMA News Online, Ang told reporters they would not take advantage of the fuel crisis and were even willing to reduce income if needed. Malinaw ang pitch niya: helping Filipinos matters more than squeezing extra profit during a rough stretch.

Ang later said his offer to sell Petron back to the state—first floated in Congress in 2021—still stands. He added that any sale could be structured in tranches at fair market value so government would not need to pay one giant lump sum during a difficult fiscal period.

He also defended the strategic value of Petron's Bataan refinery, saying the country needs domestic refining capacity especially in times of global disruption. The refinery processes about 180,000 barrels a day and supplies roughly a third of national fuel demand, making it a big deal for energy security.

At the same time, Energy Secretary Sharon Garin said a government takeover is not a good idea because the state lacks capacity to run around 14,000 fuel stations nationwide. So while Ang's offer grabbed headlines, the bigger takeaway is that the fuel crisis is forcing serious debate on who should control critical energy assets.

Source: GMA News Online — https://www.gmanetwork.com/news/money/companies/981599/ramon-ang-sell-petron-oil-price-hike/story/